Howden, an insurance intermediary, has acquired UK health and life insurance broker Help Me Compare Group Limited (ActiveQuote) and its subsidiaries (HMCGL).
Financial terms of the transaction remain undisclosed.
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This move is expected to strengthen Howden’s position in the UK health insurance broker market, catering to a wide client base from individual consumers to large multinational corporations.
HMCGL, founded in 2009 by Richard Theodossiades, has a workforce of 132.
The company, headquartered in Cardiff Bay, manages premiums of nearly £60m ($76.83m).
This acquisition aligns with Howden’s broader strategy to expand its employee benefits capabilities in response to increasing client demand.
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By GlobalDataIt follows Howden’s purchase in July of AGEO Group, an employee benefits broker in France.
Set up in 1984 by Eric and Maryse Oziebala, AGEO has 300 employees across 32 offices, serving around 12,000 corporate and small and medium-sized enterprise clients.
AGEO offers a suite of services including boutique P&C services, claims management platform, employee benefits, health insurance, policy administration, and retirement and pensions services.
Howden managing director of UK consumer life & health Mike Dalby said: “This acquisition comes at a crucial time. Over the past 12 months, we have seen a 46% surge in interest from individuals seeking private medical insurance to speed up their access to diagnosis and treatment.
“By bringing HMCGL (ActiveQuote) into our fold, we are perfectly positioned to meet this growing demand.”
HMCGL (ActiveQuote) CEO Rob Saunders said: “After 15 years of independence, growth, and development, becoming part of Howden is a significant step in our growth journey – both for our people and our clients. Howden was the only company we wanted to join and together we will provide enhanced solutions for our clients.”
Earlier this month, Howden also agreed to purchase the musical insurance book of Allianz UK.
This deal will see the customer base, along with the marketing and operations teams, integrated into Howden’s existing music scheme, Lark Music, which primarily covers high-value instruments.
