Storfield provides asset protection services to small and medium-sized enterprises (SMEs) and high-net-worth (HNW) individuals. Credit: Nuttapong punna/Shutterstock.

Howden has expanded its presence across Asia with the acquisition of Storfield Insurance Consultants, an insurance broker based in Hong Kong.

Founded in 1985, Storfield serves SMEs and HNW individuals, offering them comprehensive asset protection services.

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The company’s expertise covers a broad spectrum of insurance areas including bloodstock, fine art, and luxury vehicle and yacht insurance, in addition to customised insurance solutions for SMEs.

Storfield founder Tony Lau said: “After almost 40 years of independent growth, Howden is the natural choice for the next chapter of Storfield’s growth.

“We are confident that the combination of our local expertise and Howden’s global capabilities will enable us to better serve our clients.”

With the integration of Storfield, Howden’s Hong Kong operation’s workforce size stands at around 200, contributing to a regional presence of 17 offices and 1,100 employees across Asia.

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This move aligns with Howden’s strategy to utilise its global capabilities to support local market clients.

Howden Hong Kong CEO Alfred Sham said: “The acquisition of Storfield marks a major milestone in the development of Howden’s business in Hong Kong.

“With our combined capabilities, we not only become stronger together but also unlock additional value for our respective clients and insurer partners. We look forward to working closely together to achieve new heights.” 

Last month, Howden launched Safe+, a cyber insurance solution for mid-size companies, with annual revenues of $250m–2bn.