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Insurance coverage middleman Howden has entered a deal to accumulate Danish dealer NORTH Threat (NORTH) for an undisclosed sum.
The deal marks UK-based Howden’s foray into Denmark and bolsters its presence within the Nordic area.
Danish personal fairness firm Polaris arrange NORTH in 2021 by buying and merging 4 monetary companies corporations right into a single entity.
Presently, the corporate is concentrated on catering to SMEs and their workers.
Its portfolio consists of life and normal insurance coverage, pensions and monetary companies merchandise reminiscent of mortgages.
With the launch in Denmark, Howden has established its presence in its twentieth market in Continental Europe and now covers your complete Nordic area.
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The corporate’s Nordic growth began 20 years in the past with an workplace launch in Finland, adopted by growth into Sweden, Norway and Iceland.
Howden Europe CEO Luigi Sturani mentioned: “Collectively, we are going to proceed to scale the enterprise that may in time embrace reinsurance and different speciality traces, while accelerating the spectacular progress within the enterprise so far.
“That is our largest acquisition in Continental Europe after Italy’s Assiteca and exhibits not solely the dimensions of our ambition but in addition the compelling alternative that Howden gives to the suitable corporations with the suitable tradition.”
Lars Gundorph, who’s the pinnacle of NORTH, will lead Howden’s operations in Denmark. Beforehand, he was the CEO of Willis Denmark.
Gundorph said: “Our expertise representing Howden in Denmark has led us to recognise them as essentially the most competent and progressive gamers on the worldwide stage, with a real proprietor’s mindset.
“Howden is subsequently the proper match for NORTH, each when it comes to enterprise and tradition. Their worldwide outlook and dedication to shoppers make them a great associate to understand our full progress potential in Denmark.”
Final week, Howden Schweiz, the Swiss arm of Howden, acquired a majority stake in reinsurance dealer Haakon.
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