Howden has completed the acquisition of Barnett Waddingham, a consultancy based in the UK that offers insurance, risk, pensions and investments services.
The financial terms of the deal, first announced last month, have not been revealed.
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The newly merged company employs 4,000 professionals in the pensions and benefits sector, generating revenues of approximately £500m.
“All of the Barnett Waddingham partners have reinvested into Howden, demonstrating their long-term commitment to the business,” Barnett Waddingham said in its press release.
The merged company will deliver a complete range of employee benefits and pensions advisory services to corporate clients across multinational corporations, small and medium-sized enterprises, and both the private and public sectors.
Additionally, it will offer health, life and specialised pension products to individuals.
Barnett Waddingham senior partner Andrew Vaughan said: “We are delighted to begin our long-term journey with Howden now that the deal is officially complete. This significantly enhances our ability to deliver greater value to clients through expanded capabilities, alongside Howden’s impressive global reach and expertise.”
In February, Howden purchased Forbes Insurance, an aviation specialist, and the book of business from Hill Aviation Insurance Services.
The two entities rebranded under Howden, leading to the creation of a new specialist aviation division within Howden UK&I, as well as a new office in Leicester, UK.
Recently, Howden launched the Howden Auto Tracker, a new automated follow-form facility that aligns tracker capacity with algorithmic capacity, providing brokers with streamlined access to both from a unified data source.
