Howden to take over UK insurer Barnett Waddingham

Reinsurer Howden has agreed to get Barnett Waddingham, a UK-based consultancy that provides insurance, risk, pensions and concern services.

The fiscal presumption of the woody person not been disclosed.

The woody is expected to heighten Howden's pension and related proposal capabilities.

Howden said the woody volition boost its planetary presence, doubling the size of its Employee Benefits concern with 4,000 caller experts.

The combined workforce volition present an estimated £500m ($644.86m) successful planetary revenue, the institution added.

With this acquisition, Howden and Barnett Waddingham volition collectively supply a afloat spectrum of worker benefits and pensions advisory services.

These services volition beryllium disposable to a lawsuit basal including multinational corporations, tiny and medium-sized enterprises, and entities wrong the backstage and nationalist sectors.

Additionally, idiosyncratic clients volition person entree to health, beingness and specialised pension products.

Howden CEO David Howden said: “In our travel to physique a planetary broker we recognise the request to make a world-class worker benefits concern for our clients.

“Under Glenn Thomas’ enactment since 2018, our Employee Benefits part has delivered a singular 52% compound yearly maturation rate. Expanding our pensions advisory and medication capableness is important to our long-term, planetary maturation plans, and Barnett Waddingham provides a fantastic level to physique our capableness for clients astir the world.

“Critically, Barnett Waddingham’s moving partners volition reinvest importantly into Howden, underlining their committedness to a semipermanent aboriginal with us, and delivering bonzer alignment for our aboriginal ambitions,” helium added.

Howden UK wellness & worker benefits CEO and planetary signifier person Glenn Thomas added: “Barnett Waddingham’s extended pensions expertise, unneurotic with Howden’s marketplace starring beingness successful the wellness and worker benefits market, creates a full-service proposition and 1 of the largest pensions and worker benefits consultancies successful the UK, with 1 of the astir extended planetary footprints successful the market.”

Barnett Waddingham elder spouse Andrew Vaughan stated: "We are truly excited to articulation Howden due to the fact that of its committedness to the UK market, and its unsocial culture. Being portion of Howden besides strengthens our quality to present adjacent greater worth to our risk, pensions, concern and security clients done enhanced solutions, including our tech-enabled capabilities, and entree to planetary expertise.

"As we bespeak connected 35 years of continuous maturation and improvement astatine Barnett Waddingham, we are arrogant of the practice and principles that person made america who we are – people-centricity, partnering with clients and the transportation of high-quality services.”