The deal

Insurance coverage group Howden has closed the acquisition of Apex Insurance coverage New Zealand and its related subsidiaries (Apex).

The events haven’t disclosed the monetary phrases of the deal.

Howden mentioned the acquisition will “enormously speed up” its technique to strengthen its broking operation within the Pacific area.

Why it issues

Howden mentioned the acquisition may also enhance its broking operations in New Zealand. It’s anticipated to be an integral a part of Howden’s mixed New Zealand broking enterprise comprising Apex, Wallace McLean and Howden Broking NZ.

Howden mentioned in a press release: “This construction will allow Howden to fulfill the end-to-end wants of the complete spectrum of company to micro-SME purchasers.”

Howden Pacific CEO Matt Bacon mentioned: “This acquisition builds upon and enhances our New Zealand broking technique, which has seen us develop considerably over the previous 18 months, additional increasing our presence on this key geographical area.”

The element

Stated to be one of many largest privately owned insurance coverage brokers in New Zealand, Apex gives full-service brokerage providers.

It serves business mid-market, SME and home prospects throughout a variety of industries, together with our bodies company, property, marine, sport and transport, in addition to many schemes and affinities.

Based mostly in New Zealand, Apex gives providers to greater than 14,000 prospects and manages over 2,500 consumer claims yearly.

The corporate has workplaces in Christchurch, Thames, North Shore, and Tauranga.

In July 2023, Howden introduced the acquisition of Hudson Sky Worldwide, a Swiss aviation insurance coverage dealer.

The deal varieties a part of Howden’s efforts to broaden its product providing for patrons in Switzerland and ex-Swiss markets.

Our alerts protection is powered by GlobalData’s Thematic Engine, which tags hundreds of thousands of knowledge objects throughout six various datasets — patents, jobs, offers, firm filings, social media mentions and information — to themes, sectors and firms. These alerts improve our predictive capabilities, serving to us to determine probably the most disruptive threats throughout every of the sectors we cowl and the businesses finest positioned to succeed.