International insurance broker Howden has acquired Bremen-based broker Northern Lloyd, one of the leading marine brokers in Northern Germany.
The acquisition of Northern Lloyd reinforces Howden’s strategy to become the market leader for marine business in Germany, the broker stated.
According to the announcement, by constructing a team with local, specialist expertise, Howden Deutschland is well placed to capitalise on growth opportunities in the German marine market and will benefit from the collective power of Howden’s global footprint.
Luigi Sturani, CEO of Howden Europe, said: “Our rapidly expanding Marine & Energy offering in Europe highlights the need for an alternative choice in the market which can combine the strength of a global broker with the best, local talent to deliver bespoke solutions to clients.
“With the addition of Northern Lloyd, Howden Deutschland is well-positioned to become this broker of choice, delivering for clients with increasingly complex needs and the necessary requirement for both international and local expertise.”
Northern Lloyd is an independent marine insurance broker, and licensed Lloyd’s broker, with operations in key territories including London, Athens, Limassol and Abu Dhabi.
It provides ship owners, ships and asset managers with consulting and risks analysis and placement and claims handling services.
Stefan Gläbe, CEO, Northern LloydGroup, commented: “As a large, independent broker with specialist expertise, Howden is the optimal home for Northern Lloyd as Jan Riedesel and the team continue to seek new ways to provide our clients with innovative solutions and global support.
“We share Howden’s entrepreneurial spirit and client-centric approach and look forward to leveraging the Group’s network to better meet our clients’ needs.”
Daniel Whiteside, Managing Director – Global Head of Marine, Howden added: “We are delighted to welcome Stefan, Jan and the Northern Lloyd team to Howden as we pursue our ambitious growth strategy in Europe and strengthen Howden’s Global Marine capabilities.
“Since the first meeting with Stefan and Jan it was clear there was a strong cultural alignment, underpinned by our desire to attract and retain the best market talent, and this led to Howden being the obvious home for Northern Lloyd. We are excited for the business to be part of our Global Marine Practice.”
