Howden continues European expansion with Netherlands deal

Independent insurance group Howden continues its recent charge into mainland Europe from its London base through the acquisition of VLC & Partners Holding, one of the largest independent insurance brokers in the Netherlands. “As well as enabling Howden to scale its existing operations in the strategically important Dutch market – one of Europe’s major insurance markets – the acquisition is a key milestone in the group’s 30-year journey to building the standout European insurance broker for clients by joining with deeply aligned, high-quality businesses and talent,” said the group. The VLC 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 some of their equity share into Howden in support of the group’s unique capital model, which places employee ownership at the heart of its culture, it added. David Howden, CEO of Howden, said: “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. That it has 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. “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 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. Lando te Molder, CEO at VLC & Partners, said: “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. 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. 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.” VLC services mid-corporates, SMEs, and high-net-worth individuals. Upon completion of the deal, 500 employees will join the group, adding seven branches to Howden’s existing operations in the Netherlands. The acquisition follows Howden’s recent entry into the Danish market with the acquisition of NORTH Risk, the fourth biggest broker in Denmark. Earlier in December, Howden also announced the acquisition of Haakon AG, building its reinsurance offer in Switzerland. Howden, founded in 1994, now operates in 50 countries across Europe, Africa, Asia, the Middle East, Latin America, the US, Australia and New Zealand. It now employs 15,000 people and handles $35bn of premium on behalf of clients.

Howden continues European expansion with Netherlands deal

Want to read this article?

Read Next

Ferma members told AI will bring risk and reward for corporate insurance buyers

Aon’s revenues up 5% as it completes $13bn NFP deal

Warmer climate spreading risk of malaria and dengue to new regions

UN launches new net-zero insurance forum to replace NZIA

Pen extends fleet capacity deal with Zurich in Republic of Ireland

Ferma members told AI will bring risk and reward for corporate insurance buyers

Aon’s revenues up 5% as it completes $13bn NFP deal

Warmer climate spreading risk of malaria and dengue to new regions

UN launches new net-zero insurance forum to replace NZIA

Pen extends fleet capacity deal with Zurich in Republic of Ireland

Want to read this article?

Read Next

Ferma members told AI will bring risk and reward for corporate insurance buyers

Aon’s revenues up 5% as it completes $13bn NFP deal

Warmer climate spreading risk of malaria and dengue to new regions

UN launches new net-zero insurance forum to replace NZIA

Pen extends fleet capacity deal with Zurich in Republic of Ireland

Related Articles