Reinsurance News

Howden makes first acquisition in Swiss brokerage market

5th October 2021 - Author: Luke Gallin

Global insurance broker Howden has announced the acquisition of BrokerCenterZürichsee AG (BCZ). This acquisition, the company’s first in the Swiss brokerage market, represents investment in local expertise and a platform for its strategic growth plans in the country.

BCZ is an independent insurance broker servicing Swiss SME clients across personal lines, property, and asset insurance, offering a full range professional services and exceptional client service.

Following the deal, BCZ will operate under the new name Howden BCZ Versicherungsbroker AG.

The company’s leadership team, which consists of its two current owners, Teodoro Martino and Josef Eckl Zenger, will continue to manage BCZ’s existing operations and client relationships.

The acquisition reflects Howden’s strategy of building businesses, growing teams and empowering local leadership to partner with culturally-aligned firms to enhance the client offering.

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Felix C. Jenny, Chief Executive Officer (CEO) Howden Switzerland, commented: “We see great potential for growth by being the natural home for independent brokers in Switzerland. In this way, clients can access the expertise and specialisms drawn from Howden’s international network in their local market.

“This acquisition also fits perfectly with our growth strategy, which will be achieved through strong organic growth, attracting talent and strategic partnerships with like-minded firms who share our culture of entrepreneurship and empowerment.”

Zenger, Managing Director, Howden BCZ Versicherungsbroker AG, said: “Our clients will now benefit from the advantages of an international broking group with distribution and expertise across 40 territories. Joining Howden means we can continue to grow our business and focus on delivering exceptional service to our clients as part of a company that values its independence and employee-owned culture.”

Teodoro Martino, future Chief Development Officer Howden Switzerland, commented: “The core of our corporate philosophy is to always put our clients at the centre of our thoughts and plans. We want to offer them even more expertise from a single source in Switzerland by expanding Howden’s geographical footprint.”

Luigi Sturani, CEO of Howden Europe, added: “Howden Switzerland’s acquisition of BCZ is the most recent example of us executing on our European strategy; to build businesses across the continent that offer both clients and talent something different and exciting. Our international scale, empowering culture, product expertise and data and analytics capability means we can provide real choice in the Swiss market and beyond.”

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