International insurance broker Howden has announced the acquisition of ARTAI, an independent corporate broker based in Spain.
The acquisition will expand Howden’s presence across Spain, Portugal and Morocco, where ARTAI maintains a workforce of 600 employees across 30 offices, and manages more than €350 million in premiums.
ARTAI was founded 28 years ago in Galicia and specialises in advising companies in the textile, marine, marine-fishing, logistics and fleet sectors, in addition to risk management for large accounts.
“The acquisition of ARTAI reflects our commitment to specialist expertise, local delivery and people as the basis of our company,” said Salvador Marín, CEO of Howden Iberia.
“The purchase brings us a team with expertise and specialist knowledge that will complement our business, and also share our vision: to offer clients choice and a credible alternative in a consolidating market.”
Jaime Borrás, President of ARTAI, also commented: “A company of Howden’s size, not only in Spain but worldwide, opens up an incredible range of possibilities and markets for both our employees and our customers.”
José Manuel González, CEO of Howden Broking, added: “Howden has become a natural home, globally, for top talent in the sector, and a platform where independent and like-minded brokers can join a company with a long term vision and continue to grow their business.”
“This transaction is strongly aligned with Howden Broking’s strategic plan for the next five years, of which one of the main aims is to support and drive forward Howden’s growth in Europe.”
