International insurance broker Howden has acquired Expat Marine Limited (EML), a specialist insurance broker providing employee benefits and general insurance products and advice to clients in Hong Kong.
The acquisition is considered a reinforcement to Howden’s commitment to the Hong Kong market.
EML was established 32 years’ ago and caters for the insurance and risk management needs of individuals and small businesses, with an emphasis on Fine Art insurance, yachts and pleasure craft.
Further complementary factors exist in EML’s status as a Lloyd’s coverholder, which Howden says will ensure ap network of high-net-worth clients enjoy access to a wide range of solutions and global markets.
“EML will further strengthen Howden Asia’s spectrum of capabilities across a wide range of specialty lines, while EML’s clients will benefit from Howden’s international platform, talent and data and analytics capability,” said Mark Johnson, CEO, Howden Hong Kong.
“Peter McTavish has built a highly respected business with long-term links to the Hong Kong business community and his business is completely focused on clients’ needs and providing high levels of personal service. This deal marries two very complementary companies with people and clients at its core.”
Peter McTavish, Founder and CEO of EML, added, “We chose to join Howden because it is a ‘People First’, employee owned business where colleagues are empowered to deliver exceptional service to clients.
“As markets develop, our clients will benefit from the expertise and product knowledge of Howden’s international specialty offering and its independent spirit will enable us to continue to focus on the client-centricity and outstanding personal service for which we are known in Hong Kong.”
Goh Chye Huat, Regional CEO, Howden Asia, concluded, “This is another step in our growth strategy as we continue to increase our breadth and depth of specialism and distribution through collaboration with businesses that lead in their markets and share our vision.
“2EML’s commercial portfolio is extremely well matched with Howden Hong Kong’s and this transaction will help us diversify our business, create synergies and enable us to grow more rapidly in Hong Kong.”
