UK insurance broker Howden has announced the acquisition of Foresight Holdings for an undisclosed sum.
The deal represents Howden’s entry into the Japanese markets for retail insurance broking as well as captive consulting and management.
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Concurrently, Howden announced the appointment of Takuya Aibe as the CEO of its retail operations in Japan.
Aibe served in various senior roles at Marsh Japan for more than 20 years and most recently was the CEO of Gallagher Japan.
Set up in 2005, the acquired company is a consortium of companies authorised to deliver retail brokerage services.
Additionally, Foresight is set up to provide captive consulting services within Japan and captive management services in Micronesia, Singapore, and Hawaii.
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By GlobalDataBased in Tokyo, Foresight operates with a team of 17 staff across six offices.
Its management team has held senior positions at major Japanese insurance companies. The company oversees captive management for 13 Japanese corporations.
Howden entered the Japanese market in July 2024 with the launch of Howden Re Japan and the appointment of Kentaro Tada as the CEO of Howden Japan.
The Japanese reinsurance arm aims to offer brokerage services, strategic advice using data and analytics, and customised insurance linked securities (ILS) services for both life and non-life companies.
Tada said: “Partnering with Foresight represents a big leap forward in the development of a broader offering for our Japanese clients, and means Howden Japan can now offer retail broking and captive management services alongside its reinsurance and ILS capabilities.
Foresight CEO Kenichiro Hamada said: “After almost 20 years of developing our business, joining with Howden is the next significant step in our growth journey.
“It means that together, we can leverage the full force of our expertise and Howden’s global capabilities, enabling us to better serve clients and develop a leading market position in a highly fragmented captive market.”
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