Howden has acquired two more Italian firms as part of its plan to accelerate growth in Italy.
The company said it has picked Nord Est Insurance Broker and ASI, adding the pair to its portfolio with the Italian firms Assiteca, Andrea Scagliarini, and Tower.
Luigi Sturani, regional CEO, Howden, Europe, commented: “Nord Est and ASI are two highly regarded brokers, with very talented teams, and we are excited to welcome them to Howden. Both of these acquisitions are essential to expand our product specialty portfolio in Italy and to establish a local territorial distribution. Our long-term strategy is to position ourselves among the top players in Italy and bring choice to clients and talent in this key European market.”
Nord Est is the older of the two companies, having been founded in 1989. Its cofounders Ugo Furlan and Mario Gava released a statement.
Furlan and Gava said: “We are excited to become part of a Group that shares the same entrepreneurial mind-set which has allowed us to establish strong and lasting market relationships over the years, where our people are truly valued and will continue to have the freedom to deliver what is best for our clients.”
Meanwhile, ASI was established in 2008 as a specialised broker for sureties and freelance professionals.
Roberto Brunetta, founder of ASI Insurance Broker, said: “I have been looking for a partner who could give us international breadth for years and Howden is the perfect fit for our growing business. It is our forever home that will support our continued growth, guided by common principles including People First and the unwavering commitment to really deliver the best solutions for our clients, all of whom we know personally.”
Howden has been expanding its Italian business this year. In March, it acquired Assiteca, a brokerage with turnover of €90m. That deal came the same month that Howden picked up Tower for an undisclosed amount. Those deals followed the company’s linkup with broker firm Andrea Scagliarini. That last deal saw the firm launch Howden Italy.
At the time, Howden said that establishing operations in Italy was vital to enabling the firm to expand in Europe, enabling them to deliver service to both local and multinational clients. The launch of Howden Italy came weeks after the announcement of Sturani and Enrico Nanni as CEO, Europe and CCO, Europe.
The moves and acquisitions are part of an ongoing strategy of Howden’s to set up ‘from-scratch’ operations, as seen by launches in Belgium, Switzerland, and Australia.
