Howden, the fast-expanding London-based international insurance broker, continues its growth in mainland Europe with the launch of Howden Italy and an agreement to acquire Bologna-based broker Andrea Scagliarini SpA.
“Establishing operations in Italy adds a further market to Howden’s growing European platform, enabling them to deliver service to both local and multinational clients supported by the full weight of Howden’s specialty offering,” said the firm.
The launch of Howden Italy comes just weeks after the announcement of Luigi Sturani and Enrico Nanni as CEO and CCO in Europe respectively. It also reflects the broker’s ongoing strategy to set up ‘from-scratch’ operations – including recent launches in Belgium, Switzerland and Australia – and empower local teams to find culturally aligned acquisitions.
Howden’s global footprint now spans over 40 territories worldwide.
Mr Sturani said: “I joined Howden because I believed the market needed an alternative and that Howden is the company to deliver it. Just a month in, I have the perfect example of how Howden is delivering on its ambitions; we’ve built an impressive team, who have chosen to join us as we grow a significant presence in the Italian market, and have now our first acquisition.
“Scagliarini is a broker that I have long admired for its culture, reputation and focus on client excellence – a real Rolls Royce in the industry. For us, it represents a fantastic strategic fit and the perfect way to truly launch ourselves in Italy as a credible alternative with a difference. We call out to anyone looking for a place to grow within a business that lets you bring your true and best self to work in our ‘people first’ world,” he added.
Andrea Scagliarini, founder and chairman of the firm that was launched in 1976, said: “We have been approached to sell our business on numerous occasions over many years, but we have always declined. Why? Because we value independence and employee ownership and we would only sell to a firm culturally aligned with our own. Watching Howden’s CEO speak at a conference last year and hearing how he talked about the culture and his own personal values, we knew then that we have found the right partner.”
CEO Matteo Scagliarini added: “As a Howden One partner since 2017, we have felt like part of the family for many years. But it also means we know, understand and respect each other and share the same values and objectives. We are sure that by joining Howden, our company will be able to deliver ever more sophisticated risk solutions to our clients, with the same professionalism, accuracy and client-focused approach we have always had. Moreover, we will be in a yet better position to attract new talent and provide our people with unparalleled career opportunities. We are excited to be joining officially now and look forward to growing our future together.”
Mr Scagliarini will continue as CEO of the company and Andrea Scagliarini will remain as chairman. Both will join the Howden Italy board.
Scagliarini provides P&C and employee benefit commercial and corporate solutions for customers mainly based in the north and centre of Italy. Its international team of brokers delivers more thahn 270 multinational programmes and the whole multinational business accounts for almost 50% of its total revenues.