Howden Broking Group’s Norway subsidiary, Howden Forsikringsmegling SA (Howden Norway) has acquired a majority stake in Employee Benefits brokerage, Norwegian Insurance Partner AS (NIP).
According to an announcement on the deal, the combination of Howden Norway and NIP creates a top-five broker in Norway, and the market leader in Employee Benefits.
The Founder and Chief Executive Officer (CEO) of NIP, Geir Nygaard, will continue to lead the business in Bergen, Norway, and work closely with the CEO of Howden Norway, Anders Kvan, who is based in Oslo.
José Manuel González, CEO of Howden Broking Group, said: “After the acquisition of Punter Southall in the UK earlier in the year, our global Employee Benefits practice continues to go from strength to strength. Not only are we bolstering our capabilities for clients, but we prove ourselves once again to be the preferred home for independent, entrepreneurial talent.”
Kvan added: “NIP aligns perfectly with our ambitions in the market. This partnership strengthens our local business and positions us to provide existing and prospective clients with a complete offering in Norway across Affinity, Employee Benefits and all Property & Casualty classes better enabling us to serve our clients going forward.”
NIP’s Nygaard, commented: “We look very much forward to working closely together with Howden and offering our clients a wider international network. Howden’s expertise in Norway, particularly within P&C and Affinity products, will complement NIP’s strengths in the areas of Employee Benefits and Professional Indemnity insurances, and joining forces will enable us to offer our clients and prospective clients a better overall product.
“Our two companies share a common approach to customer service and core values, which is fundamental to our future success.”