Howden, the London-based global insurance intermediary group, announced the acquisition of aviation specialists Forbes Insurance Ltd., and the acquisition of the book of business from Hill Aviation Insurance Services Ltd.
Financial details of the acquisitions were not disclosed.
Forbes Insurance and Hill Aviation will be rebranded as Howden and will form a new specialist retail aviation division within Howden UK&I, with the team also establishing a new Howden Leicester office as part of its expanding network of 200-plus high street branches and office locations across the UK and Ireland.
Founded by CEO Terry Moyes, Forbes Insurance is an independent general insurance broker offering commercial and private client insurances, and also specialises in insurance solutions for aviation clubs, airfield operators, aircraft maintenance businesses, aviation product suppliers and manufacturers, fixed wing and rotary wing aircraft, gliders and motorgliders.
Based in Leicestershire, England, the Forbes team provides a range of specialist products and services to clients throughout the UK, with over 125 years’ combined insurance and risk management experience. Moyes will lead Howden’s new Aviation team and the new Leicester office.
Hill Aviation, based in Ripon, North Yorkshire, was established by Steve Hill as a general aviation insurance broker in 1991. Hill will shortly retire from the industry after a lengthy and successful career within aviation insurance.
“The time was right to provide our clients and employees with greater access to resources, enabling the business to continue to grow,” according to Moyes.
“The Howden culture is very attractive, and the company is still run by the founder and is 30% employee-owned which means that, despite its size, clients are still the most important thing,” Moyes added. “Forming a successful new aviation division and a new Howden Leicester office for general insurance business is a challenge that the team and I are really looking forward to.”
“I’m delighted to welcome Terry and the Forbes team to strengthen our East Midlands presence, and we look forward to extending our retail specialisms into aviation for commercial and private clients throughout the UK,” commented Jim Stevenson, regional managing director for the Midlands within Howden UK&I’s Commercial division.
“After a short period where he will be working with us on a consultancy basis, we wish Steve [Hill] a happy and well-earned retirement. Steve knows the Forbes team are the best in the market to carry on looking after his clients to the high standards he set, and Terry and our Leicester team will ensure his former clients are in safe hands,” Stevenson added.
About Howden UK&I and Howden
Howden UK&I is part of global insurance group Howden, and one of the largest specialist insurance distribution groups in the UK.
Established in 1994, Howden provides re/insurance broking and underwriting services and solutions to clients ranging from individuals to the largest multinational corporations. The group operates in 55 countries across Europe, Africa, Asia, the Middle East, Latin America, the United States, Australia and New Zealand, employs 20,000 people and handles $42 billion in premiums on behalf of its customers.
Source: Howden
Topics
Mergers & Acquisitions
Aviation
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