Howden, the London-based global insurance group, announced the acquisition of VLC & Partners Holding B.V., one of the largest independent insurance brokers in the Netherlands.
Financial details of the transaction were not disclosed.
The business is currently under the ownership of Dutch insurer, De Goudse NV, and management. As part of the transaction, VLC’s management team will roll part of their equity share into Howden.
“This acquisition is amongst the most significant we have made in Continental Europe. VLC is an incredibly highly regarded business, known for the outstanding client service it provides,” commented David Howden, CEO, Howden.
“That they have chosen to join us is testament to our continued ability to attract leading talent in all our markets, our aligned cultures, client focus and the quality of our shared growth ambitions,” he said.
“Along with the newly announced acquisition of NORTH in Denmark, it clearly shows our patient, strategic commitment to the region; we are now a scale operator in every one of the major insurance markets in Europe, and we continue to deliver on our long-stated ambition to build the pre-eminent European broker for clients and talent by joining with the very best businesses.”
Following the completion of the acquisition, Howden Netherlands will be led by Lando te Molder as CEO. The VLC name will transition to Howden in due course.
“As part of our commitment to build on our top-tier position in the Dutch and international advisory market, selecting a strategic partner is of paramount importance,” said Lando te Molder, VLC & Partners CEO.
“We are delighted to have found a long-term partner that aligns seamlessly with our core values and ambitions. Howden’s commitment to prioritising its people and customers perfectly resonates with our principles,” he added. “This partnership marks the beginning of a new chapter for us that will reinforce our international presence and create exceptional opportunities for further growth. It opens avenues for product and proposition development, digitalisation, and advancements in data and technology.”
The acquisition follows Howden’s recent acquisition of Denmark’s NORTH Risk, and the Swiss reinsurance broker Haakon AG.
Completion of this acquisition is subject to regulatory approval and works council consultation.
Founded in 1994, Howden operates in 50 countries across Europe, Africa, Asia, the Middle East, Latin America, the USA, Australia and New Zealand, employing 15,000 people and handling $35 billion of premium on behalf of clients.
Source: Howden
Topics Mergers & Acquisitions Agencies
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