The acquired firm is a financial services broker, which specialises in commercial real estate insurance, residential and commercial mortgage broking, property title insurance, high net worth personal lines insurance and life assurance, among other areas.
SPF’s acquisition is part of Howden’s efforts to strengthen its presence in the UK market and gives it access to the mortgage broking space while enhancing its existing general insurance and wealth management capabilities.
Howden UK & Ireland CEO Carl Shuker: “SPF is a stand-out business in its sector and is a strong addition to our Howden UK & Ireland business.
“With SPF, the recent acquisition of A-Plan and the upcoming completion of Aston Lark, Howden UK & Ireland will be a leading end-to-end insurance distributor capable of supporting all of our clients, whatever their insurance and mortgage needs, underpinned by market-leading digital and data capability.”
Upon deal completion, which awaits regulatory approval, SPF will join Howden’s UK & Ireland business and Mark Harris will retain his position as SPF’s CEO.
Harris said: “SPF will benefit from the significant opportunities that being part of Howden will deliver, with a big drive into offering our debt product lines across the group.
“We will carry on doing what we do best, ultimately enabling us to develop products to best serve our clients while allowing our talent to flourish.”
In October 2021, Howden struck a deal to buy Aston Lark in a deal valued at around $1.5bn.