Global insurance group Howden is set to acquire Gravitas Insurance Agency, a US-based retail brokerage that provides contingency insurance for music, sport and live events.

Gravitas was established in 2022 by John Tomlinson to concentrate on insurance strategies for the entertainment sector.

Before founding Gravitas, Tomlinson led the North America entertainment operations at Lockton and developed its music insurance practice.

Howden described the deal as part of its US expansion and an extension of its Sport & Entertainment capabilities.

The announcement follows Howden’s recent Sport & Entertainment acquisitions worldwide, including German film and entertainment broker Franz Gossler, UK performing-arts broker Hencilla Canworth, and Spain’s Boni Aldaya.

Howden vice-chair Jim Hays said: “As Howden recently made clear by establishing a US leadership team for its expansion in this dynamic market, we are committed to creating opportunities for the most talented and leading players in the sector.

“The addition of Gravitas is a great example of how we are growing our business in the US through a mix of talent and strategic acquisitions. By harnessing our outstanding global capabilities with specialist expertise, we deliver service with a difference to clients.”

Financial details of the transaction have not been disclosed by both the companies, and the completion of the deal is subject to customary closing conditions.

Gravitas founder and CEO John Tomlinson said: “The powerful partnership between Gravitas and Howden was forged many years ago and has proven to be a genuine difference maker for the entertainment community.

“This exciting next evolution as a unified front will truly force multiply our ability to deliver unparalleled outcomes for the clients we serve and become the destination of choice for the top talent in our industry.”