Howden moves into Danish market with North Risk acquisition

Howden is to establish a retail presence in the Danish market with the acquisition of Denmark’s fourth largest insurance intermediary North Risk. North Risk was founded in 2021 by Danish private equity house Polaris through the acquisition and merger of four SME-focused financial services distribution and advisory businesses into one platform. The business is focused on servicing commercial SME clients and their employees with general insurance, life and pensions and financial services (mortgages and financial procurement). Luigi Sturani, CEO, Howden Europe, says: “I am thrilled to welcome North Risk to the Howden family. This partnership stands as a testament to the power of our cultural affinity and the strong desire of the management to join our company. Together, we will continue to scale the business that will in time include reinsurance and other specialty lines, whilst accelerating the impressive growth in the business to date. This is our largest acquisition in Continental Europe after Italy’s Assiteca and shows not only the scale of our ambition, but also the compelling opportunity that Howden offers to the right companies with the right culture.” Polaris said Howden was seen as the best partner to support North Risk’s onward growth trajectory, stemming from a strong cultural alignment, a shared entrepreneurial spirit, and a client-centric approach. Furthermore, North Risk’s management said it recognises the opportunities that will arise from leveraging Howden's network to create synergies and propel sustained growth. North Risk is run by Lars Gundorph, who will head up Howden’s activities in Denmark. He was previously CEO of Willis Denmark. Gundorph said: “We are proud to have partnered with Polaris over the last few years. Through dedicated efforts, our board has assembled a team of independent and exceptionally skilled advisers, with ambitious plans for the future. Our experience representing Howden in Denmark has led us to recognise them as the most competent and progressive players on the international stage, with a genuine owner’s mindset. Howden is therefore the perfect match for North Risk, both in terms of business and culture. Their international outlook and commitment to clients make them an ideal partner to realise our full growth potential in Denmark.” Rune Lillie Gornitzka, partner, Polaris, added: “North has rapidly evolved into a strong and unique advisory firm, thanks to the tireless efforts of everyone within the organisation. At Polaris, we have contributed by leveraging our industry insight and extensive experience in developing partnerships that create new opportunities and value for clients. We are pleased to have played a part in establishing a clear market leader, now well-positioned for further development with Howden.” The launch in Denmark marks the establishment of Howden’s twentieth territory in Continental Europe and completes Howden’s presence in the Nordic region, having first opened an office in Finland over 20 years ago, followed by offices in Sweden, Norway and Iceland.

Howden moves into Danish market with North Risk acquisition

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