International insurance broker Howden is expanding its Swiss operations with the acquisition of two intermediaries, namely argenius Risk Experts (argenius) and RVA Versicherungsbroker (RVA).
The financial terms of the transaction were not disclosed.
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Born Consulting, a unit of Howden Switzerland since 2022, is acquiring RVA.
Through the deal, Howden hopes to strengthen its offerings for large institutions and small and medium-sized enterprises (SMEs).
A specialist in risk analysis and portfolio placement, argenius primarily advises medium-sized businesses and large organisations.
Besides being a speciality broker with a focus on social entities, RVA caters to SMEs to address their insurance and risk-related needs.
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By GlobalDataThe deal comes after the acquisition of three Swiss brokers over the last two years, including Born Consulting, Bachmann & Partners, and Broker Centre Zurichsee.
Once completed, the acquisition of argenius and RVA will increase Howden Switzerland’s 130 employees across eight regions, including Zurich, Basel, Zug, Bern, Lucerne, Chur, Geneva, Lugano, and the principality of Liechtenstein.
Howden Europe CEO Luigi Sturani said: “The acquisition of argenius and RVA comes at an exciting time, as demand grows across Europe for increasingly sophisticated insurance products and services.
“Combining the local, specialist expertise of argenius and RVA with Howden’s international offering will strengthen our position as one of the leading brokers in Europe capable of providing the scale, expertise and range of bespoke solutions that clients require.”
Last week, Howden expanded its marine portfolio in Europe with the acquisition of insurance broker Northern Lloyd.
