International insurance broker, Howden has announced the acquisition of Wallace McLean.
The acquisition will further strengthen the brokers local expertise, and will also provide them with an enhanced platform for its strategic growth plans in New Zealand.
The announcement of this acquisition comes just two months after it was announced that Howden had acquired the business and assets of Singapore-based insurance agency AEGIS.
Founded in 2001, Wallace McLean is a well-established advice-based insurance broking practice based in Auckland, with long-standing corporate clients in New Zealand and internationally.
The company consists of a team of highly experienced professionals, that delivers integrated, strategic insurance solutions in various specialisms including property, agriculture, shipping and freight operations, retail and distribution, and engineering and professional services.
“This is a very exciting time for Howden in the Pacific, and we are honoured that Wallace McLean has chosen Howden to partner with,” said Matt Bacon, CEO Howden Pacific.
“Wallace McLean is a highly regarded broker, with a very talented and experienced team, and we are delighted to welcome them into the Howden fold. This acquisition is another great step forward in our strategy to expand our platform in New Zealand, and continue to offer a choice to clients and talent in this key Pacific market.”
Nigel Wallace, founder and Principal of Wallace McLean, added: “We chose to join up with Howden because it offers us international depth and breadth, and allows access to global insurance markets to offset the current New Zealand insurance market conditions. We believe that this strategic partnership will enable us to continue and build on our growth strategies by future-proofing the insurance requirements of our clients.
“Myself, the management team, and all our staff are delighted to be joining Howden, and we are looking forward to accessing the additional expertise, resources, and technology that is now readily available to us. It is the perfect fit for our growing business. We are both clearly guided by common people first values, and an unwavering commitment to delivering absolute best-in-class solutions for our clients.”
