The merged entity will have an enterprise value of $13bn. Credit: Edge2Edge Media on Unsplash.

UK-based insurance firm Howden Group Holdings (Howden) has wrapped up the acquisition of reinsurance intermediary TigerRisk Partners.

In a LinkedIn post, Howden said the deal, which was announced in June 2022, has created “the world’s fourth largest global reinsurance broker”.

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As per the initial announcement, the merged entity, now called Howden Tiger, will have $30bn in gross written premium (GWP), an enterprise value of $13bn and 12,000 staff operating across 45 countries. 

“Howden Tiger will be the pre-eminent risk, capital and strategic advisor for the modern-day client and a leader in fac, managing general agent (MGA), speciality, treaty, capital markets and analytics. Together, we will be able to meet the rapidly changing demands of large global clients, domestic and regional insurers, MGAs and reinsurers,” the statement read. 

The merger has also created Howden Tiger SabRE, which comprises the existing global MGA and programme capabilities of Howden RE and TigerRisk.

With support from Howden’s Bowood, SabRE offers reinsurance, hybrid capital and capital markets advisory powered by data and analytics.

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SabRE is expected to place a combined $6bn of GWP, positioning it among the leading MGA/programme broking group across the world. 

In October 2021, Howden Broking, the broking business of Howden, reached an agreement to buy Aston Lark to create a new business in the UK with more than £6bn of GWP.

Most recently, Howden Broking bought Spanish insurance broker March Risk Solutions (March RS) and signed a deal with Banca March, which owns March RS.