Howden Tiger is born: the fourth largest reinsurance broker in the world

The landmark acquisition creating the  fourth largest global reinsurance broker has finally been completed. The two companies,  Howden and TigerRisk, are now setting their sights on competing with the Big Three reinsurance intermediaries with a huge “collective roar”.

Howden has confirmed that its approximately $1.6 billion  acquisition of rival TigerRisk Partners has closed, creating a “pre-eminent risk, capital and strategic advisor for the modern day client”.

Howden Tiger, as they are now called, have created the world’s fourth largest global reinsurance broker, specialising in fac, MGA, specialty, treaty, capital markets and analytics.

The deal has also created the world’s largest programme, MGA and binding authority capability, called  Howden Tiger SabRE, with over $6 billion of premium. SabRE will comprise specialists from Bowood, Howden’s specialist delegated binding authority division, TigerRisk and Howden Re’s coverholder teams.

“Together, we will be able to meet the rapidly changing demands of large global clients, domestic and regional insurers, MGAs and reinsurers,” the company said in a statement.

“This builds on our continued commitment to deliver more choice for clients and act as the natural home for talent looking to work for a company with purpose and a unique culture where they can build a business for the long term.”

In a separate statement, Howden Broking said: “A very warm welcome to our new colleagues from TigerRisk as we begin 2023 with a collective roar.”

“[…] SabRE will offer clients an exceptional combination of reinsurance, hybrid capital and capital markets advisory, underpinned by data and analytics.”

“This is an exciting moment for us – not only to have achieved this incredible milestone, but also to be joined by such a remarkable. Tiger shares our passion and relentless drive to deliver for clients, and we’re excited to achieve great things together,” it added.

The deal was first announced in June 2022 to form a broker of significant size in a market increasingly dominated by few big players. TigerRisk was formed in 2008 by industry veterans Rod Fox and Jim Stanard.

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