International insurance intermediary Howden has agreed to buy Assimovie, a TV, film and advertising insurance broker for an undisclosed sum.
The acquired company was established in 2013 and is headquartered in Italy.
Assimovie’s insurance portfolio for the film industry comes from both direct and wholesale broking activity.
According to Howden, the speciality broker has witnessed significant development over the last five years due to a rise in demand for TV, movies, and general content policies on a global scale.
With the acquisition, Howden expects to become Italy’s leading TV and film production broker.
Howden chief commercial officer in Europe Enrico Nanni said: “Assimovie shares our strong entrepreneurial spirit and people-first culture, built around employee ownership, making it the perfect partner as the Group grows its unique range of speciality solutions for clients.
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“We look forward to working with, and welcoming Valeria, Camilla and the team as we build on our respective expertise and grow the Group’s presence in Europe.”
Assimovie co-founders, Valeria and Camilla Guglielmotti said: “In the last ten years we have established Assimovie as the TV and Film broker of choice in the Italian market, taking advantage of growing global demand to achieve impressive growth since 2017.
“Howden Broking is the optimal partner for us to grow the business and create an international platform, supported by Howden’s global brand and strong European presence.”
In October this year, Howden purchased the personal injury operations of Gallagher Bassett New Zealand.