International insurance intermediary Howden has announced the acquisition of the personal injury operations of Gallagher Bassett New Zealand.
Howden did not disclose the financial value of the transaction.
The acquisition of the personal injury business by Howden Care New Zealand, a local unit of the UK-based broker, will be effective from 1 December 2022.
Howden Care New Zealand is engaged in running Howden’s workplace claims management, rehabilitation and wellbeing business.
Through the acquisition of Gallagher Bassett’s business, Howden expects to bolster its position in the injury management space.
The deal is said to expand Howden Care’s footprint in New Zealand and enhance its capabilities to offer localised services and support for businesses with diverse workforce and operations.
Howden Pacific CEO Matt Bacon said: “Gallagher Bassett’s New Zealand Personal Injury division is a stand-out business in its sector and is a strong addition to our Howden Care and Broking businesses. Both businesses share complementary cultures, and both are passionate about delivering the very best outcomes for our clients, and their people.
“With this acquisition, and the recent acquisition of Wallace McLean, Howden New Zealand will be a leading end-to-end TPA and insurance broker capable of supporting all of our clients, whatever their needs.”
The acquisition is subject to regulatory approval and customary closing conditions.
In July this year, Howden announced the acquisition of Wallace McLean to strengthen its New Zealand operations.
Wallace McLean is an advisory-based insurance broker serving both local and overseas corporate clients.