British specialist insurance broker Howden has joined forces with the UAE-based broker Guardian Insurance Brokers to boost its presence in the Turkey, Middle East and Africa (TMEA) region.
Howden, which is part of the Hyperion Insurance Group, forayed into the UAE market by opening an office in Dubai in 2008.
Later in 2017, the insurance broker opened another office in Abu Dhabi.
Howden further boosted its footprint in the TMEA region through strategic acquisitions and forming partnership with other companies.
As part of the collaboration, Guardian existing shareholders Fawaz Moukayed and Sheikh Tahnoon Bin Saeed Al Nahyan continue associated with the business. Moukayed has been named as chairman of the Abu Dhabi operation.
Howden has named Rasha Moukayed as managing director and tasked him to oversee the day-to-day operations.
Howden Broking Group CEO José Manuel González said: “We have a clear strategy of making selective partnerships that complement our strategy and culture, and this excellent collaboration once again delivers on this. We’re committed to investment in TMEA to better deliver for our clients.”
Howden TMEA regional CEO Atinc Yilmaz stated: “We’re delighted that the Guardian team has chosen to join Howden.
“Their market-leading reputation, strong client focus, and deep expertise, combined with Howden’s international reach, will create a compelling proposition in Abu Dhabi and the wider UAE market.”
Howden acquired a majority stake in broker ACP in Turkey. Also, it snapped up New Generation Insurance Services Company in Oman. In Tanzania, Howden has forged a partnership with BR Puri & Company.
In February, Howden reached an agreement to purchase a strategic stake in Malene Insurance Brokers in Malaysia.