Howden Group acquires Arctic Insurance
Arctic Insurance becomes part of Howden Group – one of the world’s largest privately owned insurance distribution businesses outside of the US with more than 15,000 employees.
The global insurance group Howden Group announces the acquisition of 100 % of the shares in Arctic Insurance.
Arctic Insurance was established in 2014 and has since become a leading insurance broker in Norway within its targeted segments. With a growing and demanding customer portfolio, it was a logical next step for Arctic Insurance to become part of a larger brokerage group.
Together, Arctic Insurance and Howden will continue to be the challenger in the market, create superior value for clients and identify tailored insurance solutions to suit their needs.
"Demonstrates our attractive position in the industry"
– Alexander Ringvold, CEO of Arctic Insurance– Joining forces with Howden is a testament to our success as an insurance broker and clearly demonstrates our attractive position in the industry. Howden Group is an internationally renowned brand in our industry, says Alexander Ringvold, CEO of Arctic Insurance:
– Arctic Insurance has consistently delivered value to our clients and built lasting relationships. I am proud of our employees and the success we have achieved together.
– We are now poised to continue our growth trajectory as part of a larger, dynamic global group, and I look forward to working with the team in this next phase, Ringvold adds.
– The right industrial home for Arctic Insurance
Petter Bakken, Chairman of the Board in Arctic Insurance and Founding Partner of Arctic, comments:
– From its humble beginnings in 2014, Arctic Insurance has become highly attractive within insurance brokering, offering its clients unparalleled expertise within an increasingly complex insurance market.
– We believe Howden will become the right industrial home for Arctic Insurance – an international player that will provide additional resources, add value to the clients, and develop the company even further, Bakken says.
Ambitious strategy in Norway
The acquisition of Arctic Insurance, and with it the addition of a strong team of like-minded, entrepreneurial individuals, is a significant step in Howden’s ambitious growth strategy for Norway:
– It brings us one step closer to becoming the leading independent broker in Norway – a market that is looking for more choice and a broking partner that can manage and place complex risk. Combining the specialist expertise of AI with the scale of Howden’s international footprint strengthens our position as one of Norway’s leading brokers, capable of providing the range of bespoke solutions that our clients need in an increasingly challenging market environment says Anders Kvan, CEO, Howden Norway.
FACTS: About Howden
Howden is a leading global insurance group with employee ownership at its heart. Founded in 1994, it operates in 50 countries across Europe, Africa, Asia, the Middle East, Latin America, the USA, Australia, and New Zealand, employing 15,000 people and handling $35bn of premium on behalf of clients.
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