Howden strengthens footprint in Western Australia with acquisition of Unicorn Risk Solutions

Howden strengthens footprint in Western Australia with acquisition of Unicorn Risk Solutions

Sydney, 2 November 2023 – Howden, the global insurance group, announces that it has increased its shareholding in Unicorn Risk Solutions (Unicorn), a Perth-headquartered general insurance broker, to 100%. This joint decision strengthens Howden’s strategy to grow a differentiated, challenger business that provides choice and a compelling alternative for clients, employees and insurance markets in Western Australia and the broader Pacific market.

Howden made its initial investment in Unicorn in August 2022, and the partnership has subsequently delivered significant benefits to both Howden and Unicorn’s clients and staff. Throughout the partnership, Unicorn has continued to deliver innovative, comprehensive, cost-effective solutions, and a fast, efficient local service to clients. 

Matt Bacon, CEO Howden Pacific, commented: “We are excited about this next step in Howden and Unicorn’s partnership, having been closely involved with them since our initial stake in August 2022.  They are aligned very closely with our values, and we have thoroughly enjoyed working together. The team at Unicorn is extremely impressive, which when combined with the cultural alignment, made this an obvious decision.” 

“Unicorn has quickly built a high-class operation, with brokers who have been immersed in the Western Australian insurance market for decades, and a culture that demonstrates genuine care for their people and a real passion for their clients and markets”. 

“We are honoured that Unicorn have chosen to come fully on board with Howden. With this acquisition, Howden cements its foundations in Western Australia, continuing its fast-paced build out across the broader Pacific market.” 

Eddy Pope, Director, Unicorn, commented: “The consolidation of our partnership with Howden was an easy decision to make because of the obvious and proven benefits to our clients and staff, leveraging the combined strength of both companies.  Unicorn’s vision was to become the pre-eminent broker in Western Australia by looking after our clients and people in an old fashioned, new age way.” 

“With Howden, we have the benefits of working with a large global broker, combined with the responsiveness, speed of innovation and specific know-how of a local broker.”
Howden’s people-first and client-centric approach and their commitment to provide world-class solutions and service, fits perfectly with our culture. We are confident that the depth, breadth, and scale of our combined capability will bring real benefit to our clients.”