UK-based insurance broker Howden has acquired commercial broker Ross Insurance Group, which services both corporate and technology clients.
The financial value of the deal was not disclosed.
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The acquired firm currently offers a wide range of products with a focus on financial and construction risks.
It also manages complex global programmes for clients across various markets such as financial services, technology, construction, property management and vehicle leasing.
The deal is part of Howden’s strategy to offer specialist expertise and service to its clients in the UK and international markets.
Howden head of financial lines Sarah Hughes said: “Our relentless focus on expertise and investing in specialist skills is underlined by this highly complementary partnership with Ross Insurance Group, who bring with them significant experience and in-depth industry knowledge. They have established an exceptional reputation for listening and understanding client needs and using innovative thinking to achieve tailored solutions.”
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By GlobalDataRoss Insurance Group CEO Mark Ross said: “As an employee-owned firm with a ‘people first’ culture, Howden is an excellent fit for our team as we look to take the business to the next level, where we will benefit from its scale, market access, breadth of expertise and investments in technology and digital solutions.”
The announcement comes shortly after Howden brokered a deal with Goldman Sachs Asset Management and Bowmark Capital to buy Aston Lark.
As per media reports, Howden paid $1.5bn for the acquisition.
