Howden makes major expansion in Italy riding the M&A wave

Fast-expanding insurance broker  Howden has strengthened its presence in Italy with two new acquisitions, following five large deals in the last one year. The move is part of its long-term strategy to position itself among the top players in the country as well as key European markets.

London-based Howden has purchased Italy's Nord Est Insurance Broker and ASI.

Nord Est was founded in 1989 and is an independent insurance broker with long-standing relationships among local mid-upper market clients. ASI was established in 2008 and is a specialised broker for sureties and freelance professionals.

“Nord Est and ASI are two highly regarded brokers, with very talented teams, and we are excited to welcome them to Howden. Both of these acquisitions are essential to expand our product specialty portfolio in Italy and to establish a local territorial distribution,” said Luigi Sturani (pictured), regional CEO of Howden, Europe.

Since establishing its operations in the country a year ago, Howden has already made five acquisitions, including the largest independent insurance broker in Italy, Assiteca, and the specialist brokers Andrea Scagliarini S.p.A. and Tower S.p.A.

Sturani noted: “Our long-term strategy is to position ourselves among the top players in Italy and bring choice to clients and talent in this key European market.”

Ugo Furlan and Mario Gava, co-founders of Nord Est Insurance Broker, said: “We are excited to become part of a Group that shares the same entrepreneurial mind-set which has allowed us to establish strong and lasting market relationships over the years, where our people are truly valued and will continue to have the freedom to deliver what is best for our clients.”

Roberto Brunetta, founder of ASI Insurance Broker, continued: “I have been looking for a partner who could give us international breadth for years and Howden is the perfect fit for our growing business. It is our forever home that will support our continued growth, guided by common principles including People First and the unwavering commitment to really deliver the best solutions for our clients, all of whom we know personally.”

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