Global insurance group, Howden has completed its acquisition of Apex Insurance New Zealand and its associated subsidiaries.
Acquiring Apex will greatly accelerate Howden’s ongoing strategy to form a leading broking operation in the Pacific region, as it builds on the foundation for the company’s growth plans in New Zealand, as well as the overall servicing capabilities across the region.
At the same time, Howden noted that this acquisition strengthens their New Zealand Broking operations and will be an integral part of the combined New Zealand broking business comprising of Apex, Wallace McLean and Howden Broking NZ.
In addition, this structure will also enable Howden to meet the end-to-end needs of the full spectrum of corporate to micro-SME clients.
Established in 1999, Apex is currently one of the largest privately owned insurance brokers across New Zealand.
The company and was initially formed to provide innovative insurance solutions in the fire and general insurance market.
Today, however, Apex stands as a full-service brokerage that is focused on servicing commercial mid-market, SME and domestic customers across a wide variety of industries including property, bodies corporate, marine, sport, transport, as well as many schemes and affinities.
The company’s headquarters are based in Auckland, New Zealand, with additional offices also in Christchurch, Thames, North Shore, and Tauranga.
Apex also has an extensive team of highly experienced brokers and claims managers servicing over 14,000 customers and managing over 2,500 client claims annually.
Matt Bacon, CEO, Howden Pacific, said: “We are very excited with the acquisition of Apex and honoured that they have chosen to partner with Howden. Apex has long been a fixture of the New Zealand insurance landscape and we’re proud to be at the beginning of the next chapter in Apex’s future.
“This acquisition builds upon and enhances our New Zealand broking strategy, which has seen us grow significantly over the past 18 months, further expanding our presence in this key geographical region. We see so many opportunities for the future between Howden and Apex, with an unwavering commitment to continue to offer a choice to clients and access to key broking talent to provide leading insurance solutions.”
James McGhie, Managing Director, Apex, commented: “The decision to join Howden was easy because of shared values and cultural alignment. Howden is similarly committed to delivering exceptional client service, building long-term relationships to deliver practical and cost-effective solutions. As a privately-owned business, Howden’s independence was a key consideration, and we are confident that together we will deliver the very best results for clients.”
