Founded in 1994, Howden Group comprises Howden the international insurance broker, and DUAL, an international MGA.
TigerRisk, founded in 2008, is a risk, capital and strategic advisor to the insurance and reinsurance industries, with officers in the US, Bermuda, the UK, and Hong Kong.
Howden said the transaction bolsters the scale and depth of its reinsurance and capital markets offering and will create a fourth global player in the reinsurance market. Moreover, it consolidates the groups position as a global insurance intermediary, offering services across insurance, reinsurance, MGA and capital markets.
In addition, Hwoden said the acquisition represents its continued investment in the US, focusing on MGA and reinsurance to support its existing retail, wholesale and MGA clients and follows its recent move to enhance DUAL, its leading specialist general agency and underwriting management group in the US, through the purchase of Align Financial Holdings.
David Howden, CEO, Howden Group said, “TigerRisk has been the standout business and innovator in the reinsurance and capital markets space for many years and the decision to join forces with Howden is a unique opportunity and a game-changer for us and the industry…
“Not only does the combination create an unrivalled digitally driven reinsurance and capital markets business underpinned by a complementary product offering and strong cultural fit, it brings full capability to our diversified and differentiated client offer, creating a fresh alternative of real scale for clients and talent.”
The transaction is subject to regulatory approvals.
Howden recently partnered with parametric InsurTech Skyline Partners and global reinsurer Munich Re to develop a parametric insurance solution designed to protect farmers in Jamaica from extreme weather events.
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