Silks Insurance offers a comprehensive suite of equine industry solutions. Credit: Lukas Gojda/Shutterstock.

UK-based insurance company Howden has announced the acquisition of Silks Insurance, an Australian broker specialising in the bloodstock market.  

Howden expects the move to bolster its sport and entertainment specialty capabilities in the Pacific region.  

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Silks Insurance, established in 2020, offers a range of equine industry solutions including insurance for foals, yearlings, weanlings, broodmares, racehorses and stallions. 

This transaction follows a series of strategic acquisitions by Howden, including HQ Insurance in Australia and the UK bloodstock broking business of Tysers. 

Additionally, Howden’s underwriting arm, DUAL, has recently acquired bloodstock managing general agencies Galileo and David Ashby Underwriting. 

Howden said these acquisitions represent a significant expansion of its capabilities and market reach within the specialised equestrian insurance sector. 

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Howden global practice leader of sport and entertainment Duncan Fraser said: “We are building the capability and expertise to respond to our clients’ needs through industry, product and geographical specialists linked together in a global practice.  

“The addition of the Silks team significantly enhances our presence in Australia and is a major step in our strategy to be recognised by clients as the leading sport, media, entertainment and equine broker in the market.” 

Silks Insurance director Stuart Doughty said: “Silks’ clients will reap the benefits of Howden’s international platform and data and analytics capabilities as we continue our growth journey with them.  

“Ultimately, Silks has been built on a loyal client base and the hard work of its experienced employees. Now it has the backing of Howden and its significant bloodstock insurance relationships in the UK, I can only see this as a positive for our clients in the future.” 

Last week, Howden acquired Norwegian intermediary Arctic Insurance to boost its presence in the Nordic region.