The broker is turning its sights to ’high growth specialist areas’ including MGAs and facultative reinsurance
Howden has announced its financial results for the year ended 30 September 2022, revealing organic growth of 19% and a 60% increase in revenue to £1.841 billion. The firm also announced the completion of its merger with TigerRisk in January 2023.
David Howden, CEO, Howden Group said the tie-up between the two firms offered the market a much-needed ‘new force’.
“The combination of Howden and TigerRisk represents the final strategic pillar of our Group architecture, providing a fresh dynamic for clients and a full spectrum offer across insurance, specialty, reinsurance, underwriting, capital markets and advisory,” he said.
“Howden Tiger creates a new force that has long been needed in the reinsurance market, a leader in many high growth specialist areas such as MGAs and Facultative, and critically a massive magnet for talent.
”Over the last 18 months, we have executed relentlessly on our strategy of building a business for, and over, the long term.
“We’ve done this by joining with other entrepreneurial companies who want to continue to grow and by attracting and retaining the best talent, all of whom share in our vision and passion.”
He said the broking giant would continue to focus on coming up with innovative solutions for the dynamic and evolving risk environment.
“As climate, macroeconomic and geopolitical uncertainty continues, the insurance sector has a tremendous opportunity to demonstrate its value to society,” continued Howden.
”At times like this it’s important that we challenge ourselves to find new ways of helping our clients confront a dynamic and interrelated risk environment, such as our product insuring the authenticity of carbon credits and our work on using insurance to fund disaster relief projects.
“Our focus on insurance as a force for good, innovation and our entrepreneurial mindset are among the key reasons that more and more clients are turning to Howden.”