International insurance broker, Howden, has recently announced its acquisition of Media Insurance Brokers International Limited (MIB), a leading independent UK and Irish film and television broker.
Howden is a prominent global entity offering a wide array of insurance solutions, while MIB has distinguished itself as a major broker for the film, television, music, and events sectors since its establishment in 1990.
This acquisition is a strategic move to significantly enhance Howden’s media and entertainment portfolio, aligning with the company’s goal to become the premier choice for sports and entertainment clients. The deal’s value, however, was not disclosed in the announcement.
Howden is a global insurance broker providing tailored solutions across a broad range of sectors, offering expertise in risk management, employee benefits, and insurance. MIB, in contrast, operates as a specialist, providing insurance products to the film, television, music, and event sectors, and has built robust relationships with leading broadcasters, media buying companies, and independent production companies.
The addition of MIB into Howden’s portfolio is expected to augment Howden’s sport and entertainment practice significantly, especially in Europe. Duncan Fraser, Global Practice Leader, Sport & Entertainment, Howden, said, “MIB’s established relationships and deep industry knowledge, with many leading clients in the film, television, music, and live events sectors, presents us with a significant opportunity to grow our business. Acquisitions like this will empower Howden to meet the growing demands of our entertainment and media sector clients as they continue to bounce back from the disruptions of Covid.”
The acquisition follows Howden’s recent purchase of Franz Gossler Insurance Group, a leading film and entertainment insurance broker in Germany, and Assimovie, Italy’s top television and film broking house. Additionally, Howden’s acquisition of Wallace McLean in July 2022, a New Zealand broker specialising in film and television, further extended Howden’s expertise into the Pacific region.
Richard Moore, Managing Director of Media Insurance Brokers, concluded, “The team at MIB has worked hard for many years to establish a first-class brand within our sector which stands for excellent service and product knowledge for all our clients. This acquisition by Howden means we can continue on this path as part of a much larger group and with all the benefits that brings.”
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