Insurance broker Howden secures $1.1bn in debt and equity


Insurance broker Howden Group Holdings has raised over $1.1bn in debt and equity, which it intends to use towards M&A initiatives.

Founded in 1994, Howden Group Holdings comprises Howden Broking and underwriting business DUAL. Howden Group Holdings’ businesses operate in 50 countries across Europe, Africa, Asia, the Middle East, Latin America, the USA, Australia and New Zealand, employing 14,500 people and handling $30bn of premium on behalf of clients.

According to a report from the Insurance Journal, Howden finalized a $500m seven-year term loan earlier in March, with more than 60 lenders providing capital, including more than 10 new lenders to the group.

The group also increased its revolving credit facility from $230.2m to $447.9m across a range of banking relationships.

Howden reportedly intends to attract talent through the acquisition of entrepreneurial businesses with standout expertise and through investment in new hires remains at the heart of the group’s growth strategy.

Following the raise, Peter Blanc, executive chairman of Howden UK&I, will now take on the new role of head of M&A, reporting to David Howden, CEO of Howden Group Holdings, effective immediately. He will support Howden and the leadership team to deliver the group’s strategy to build out its geographic reach and product expertise where it can make a difference for clients across retail broking, reinsurance broking and underwriting.

The CEO of Howden said, “Following the £5bn we have invested over the last three years, we have raised a further £1b giving us the financial firepower to accelerate at pace by joining with the best businesses and brightest talent who are looking for a forever home where they can continue to deliver their expertise and service in a culture that cherishes entrepreneurial spirit.”

Earlier this year, Howden reported that an increasingly unpredictable threat landscape has elevated strikes, riots and civil commotion (SRCC) risks and hence reduce risk appetite in the political violence (PV) insurance market.

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