Howden buys Business Insurance Denmark and Assurance Partner

Accelerating growth

The financial advisory firm NORTH (now called Howden) has acquired Business Insurance Denmark, which brokers insurance for small and medium-sized businesses, and Assurance Partner, which specializes in insurance for housing associations and property companies. The acquisitions expand NORTH's market-leading position and strengthen the overall offering to customers.

NORTH (now called Howden) was established in the spring of 2021 as a unique financial advisory firm, offering independent and comprehensive advice to private and public companies in the areas of insurance, pensions, financial agreements, and mortgage financing. The company has created an advanced and intelligent digital platform that allows for the development of customer-facing tools, ensuring quick and easy access to information about individual companies and the market. With the acquisitions of Erhvervsforsikring Danmark and Assurance Partner, NORTH (now called Howden) enhances its advisory services and significantly expands its customer base to more than 5,500 companies.

"We have created a unified and strong Danish advisory house with a focus on guiding customers in a complex financial universe, and now we are strengthening the advice to small and medium-sized businesses as well as all types of housing associations and property companies. We look forward to continuing the progress with new competent colleagues, so we can offer existing and new customers a larger and more complete range of services," says Lars Gundorph, Group CEO.

Business Insurance Denmark is an agency for property insurance for small and medium-sized businesses and has since 2008 built up a nationwide portfolio of business customers based on industry agreements and special agreements for cooperative and owner associations, property companies, and craftsmen.

By drawing on the common competencies in NORTH, we can offer better advice to our existing customers and attract new ones as well. NORTH (now called Howden) "We already have a strong position in the market, and we look forward to getting an even better platform to develop a stronger offering for medium-sized customers," says CEO Jørn Buhl Pedersen, Business Insurance Denmark.

Assurance Partner specializes in insurance for housing associations and property companies and has built a strong position in advising on insurance needs and solutions for cooperative housing and homeowners' associations, property companies and administrators, as well as lawyers since 1992.

"We look forward to developing the business as part of NORTH, which has created groundbreaking and value-creating offers for customers. Together, we stand strong as one of the leading advisors in risk management and property insurance. This will bring even greater joy to our customers and the entire group in the future," says CEO Niels Ole Sloth, Assurance Partner.

The market for financial advice is undergoing rapid development as many companies experience rising prices and stricter conditions. It has never been more important to have a complete overview of insurance and pension arrangements as well as financial agreements.

"We are pleased to support NORTH's ambition to establish a true market leader in financial advisory for businesses in Denmark. The two new investments are important steps along the way, and we continue to see good opportunities in line with the company's strategy to accelerate growth both organically and through acquisitions," says partner Rune Lillie Gornitzka, Polaris.

Owners and management of Erhvervsforsikring Danmark and Assurance Partner are investing in NORTH together with Polaris and the company's owners and management. The parties have agreed not to disclose the purchase prices.

Further information:

Lars Gundorph, Group CEO, NORTH (now called Howden)  
25 97 20 00 translates to "twenty-five thousand nine hundred twenty"
[email protected]