Monday, May 20, 2024

Horden acquires Denmark’s NORTH Risk

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Howden, the London-based insurance group, has announced that it has agreed to acquire Denmark’s fourth-largest insurance brokerage company, North Risk, establishing a retail presence in the Danish market and expanding its presence in Europe’s Nordics. We have strengthened our geographical presence in the region.

NORTH was formed in 2021 by Danish private equity firm Polaris through the acquisition and merger of four financial services distribution and advisory businesses focused on small and medium-sized enterprises into one platform. The business focuses on providing general insurance, life insurance, pensions, and financial services (mortgages and financing) to small and medium-sized business customers and their employees.

Financial details of the transaction were not disclosed.

As the Polaris investment closes, the private equity firm and North’s management team select Howden as the partner of choice to support their future growth trajectory.

This decision was born out of strong cultural alignment, a shared entrepreneurial spirit, and a customer-centric approach. Additionally, North’s management team recognizes the opportunities created by leveraging Howden’s network to create synergies and drive sustainable growth, Howden said.

The launch in Denmark marks the establishment of Howden’s territory of continental Europe. It also completes Howden’s presence in the Nordic region, first opening an office in Finland more than 20 years ago, followed by offices in Sweden, Norway and Iceland. . Howden serves a wide range of clients in the Nordics across all specialties, from renewable energy to real estate and M&A.

“We are thrilled to welcome North to the Howden family. This partnership is a testament to the power of our cultural affinity and the leadership team’s strong desire to join our company.” CEO Luigi Sturani commented, noting that this is Howden’s largest acquisition on the European continent after Assiteca in Italy.

NORTH is run by Lars Gandolf, who heads Howden’s activities in Denmark. Previously, Willis served as CEO of Denmark.

“We are proud to have partnered with Polaris over the past several years. Through our dedicated efforts, our Board of Directors is an independent and highly seasoned advisor with ambitious plans for the future. We have assembled a team of people,” Gandolf said.

“My experience representing Howden in Denmark has led me to recognize that they have a true owner’s mindset and are the most talented and progressive players on the international stage. Their international perspective and commitment to their customers make them the ideal partner to realize the full potential of our growth in Denmark.”

Founded in 1994, the company operates in 50 countries across Europe, Africa, Asia, the Middle East, Latin America, the United States, Australia and New Zealand, employs 15,000 people and insures $35 billion on behalf of its customers. processing fees.

Source: Howden

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