VLC is currently jointly owned by Dutch insurance company De Goudse and its management team. Credit: g0d4ather/Shutterstock.

Howden is bolstering its insurance broking operations in the Netherlands through the acquisition of VLC.

An independent insurance intermediary, VLC is currently jointly owned by Dutch insurance company De Goudse and its management team.

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The management team of VLC will roll over a portion of its equity holding into Howden as part of the deal.

VLC caters to SMEs, mid-corporates and affluent individuals. 

Howden will retain 500 VLC employees and add seven branches to its network in the Netherlands through the deal.

Howden CEO David Howden said: “This acquisition is amongst the most significant we have made in Continental Europe. VLC is an incredibly highly regarded business, known for the outstanding client service it provides. 

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“Along with the newly announced acquisition of NORTH in Denmark, it clearly shows our patient, strategic commitment to the region; we are now a scale operator in every one of the major insurance markets in Europe, and we continue to deliver on our long-stated ambition to build the pre-eminent European broker for clients and talent by joining with the very best businesses.”

VLC CEO Lando te Molder said: “As part of our commitment to build on our top-tier position in the Dutch and international advisory market, selecting a strategic partner is of paramount importance. 

“This partnership marks the beginning of a new chapter for us that will reinforce our international presence and create exceptional opportunities for further growth. It opens avenues for product and proposition development, digitalisation, and advancements in data and technology.”

Once the acquisition is finalised, Howden will appoint Molder as the CEO of the Netherlands oeprations, and the VLC brand will eventually be rebranded to Howden.

The completion of the deal is subject to regulatory approvals and the completion of consultations with the works council.

Last week, Howden forayed into the Danish market with the acquisition of NORTH Risk. 

Earlier in December, the UK insurance broker acquired a stake in Haakon, significantly enhancing its reinsurance capabilities in Switzerland.