Insurance broker Howden has reached a deal to purchase ARM Group Holdings (ARM), marking its foray into the captive management space. 

Howden did not disclose the financial terms of the transaction, which forms part of its plan to strengthen its multinational clients practice.  

ARM, headquartered in Guernsey with a management licence in Bermuda, brings expertise in the formation and management of insurance captives. It handles more than 80 captive structures.  

Alternative Risk Management, a subsidiary of ARM, is reputed to be one of the biggest independent insurance managers in Europe. 

The completion of the deal is contingent upon regulatory approval. 

Howden Multinational Clients Practice managing director and global practice leader Morwenna Howell said: “In-house captive capabilities are an essential piece of the puzzle in order for us to provide unparalleled solutions for our large and multinational clients.  

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“This is a growing market with strong demand for new entrants, and by harnessing the power of our global network, our market-leading specialty, reinsurance and analytics capabilities, and now, our enhanced captive capabilities, we look forward to continuing our growth.” 

ARM managing director Charles Scott said: “We have built a robust, successful business in the last 20 years, and joining with Howden represents the logical next step in our journey.  

“It has been an easy decision to make as we already manage a number of Howden clients, allowing us to get to know them and vice-versa.” 

The latest deal continues Howden’s recent acquisition spree. 

Last month, the company expanded its UK presence through the acquisition of Laurie Ross, a Scottish broker specialising in personal and commercial lines.  

Earlier in January, Howden made a move into the Australian market by acquiring Silks Insurance, a broker with a focus on the bloodstock market.  

Founded in 2020, Silks Insurance provides a suite of insurance solutions for the equine industry, covering foals, yearlings, weanlings, broodmares, racehorses and stallions. 

Howden also strengthened its position in the Norwegian market this year by purchasing Arctic Insurance.