Howden, a global insurance and reinsurance broking group, has acquired Polygon Insurance Brokers Limited (PIBL) a retail insurance broker based in the Channel Islands. The transaction is subject to regulatory approvals.
With acquisition, Howden expands presence in the Channel Islands, having the ability to serve clients in Jersey and Guernsey.
PIBL, formerly known as Vantage Insurance Brokers, offers specialised insurance solutions, catering to high net worth individuals, family offices, and trust companies in Jersey and Guernsey, as well as the offshore financial services sector.
Its areas of expertise include professional indemnity, financial institutions insurance, D&O, and cyber liability products.
Martin Ellis, Managing Director and Global Practice Leader for Professional Services, Howden, said: “The acquisition of PIBL strengthens our ability to service the full spectrum of clients in Jersey and Guernsey, from corporates to high-net-worth individuals.
“By combining PIBL’s strong local relationships and client service with Howden’s specialist expertise and global capabilities, we’re creating even stronger outcomes for clients by expanding the breadth of solutions and market access available to them to meet their evolving needs.”
Henry Mowbray, Managing Director, PIBL, said: “By joining Howden, with its growing presence in the Channel Islands alongside its global network, PIBL will be better positioned to provide enhanced solutions and capabilities to clients.”
The acquisition of PIBL follows Howden’s recent purchase of Guernsey-based ARM Holdings, a specialist in the formation and management of insurance captives, and is another step in its strategy to grow its business in the Channel Islands for the benefit of clients.
Carl Shuker, Deputy Chairman, Howden UK&I, said: “Combining PIBL with our existing business in the Channel Islands creates a meaningful platform for growth in this very important market, and we are looking forward to an exciting new chapter in the Howden growth story with the addition of PIBL’s expert team.”
