Howden acquires leading Spanish broker ARTAI
Howden, the international insurance broker, has today announced the acquisition of ARTAI, Spain’s largest independent corporate insurance broker.
The transaction, which is pending approval from the Directorate General of Insurance (DGSFP), will see Howden’s presence in the region grow considerably, managing more than Euro 350M in premiums, with a workforce of 600 employees across 30 offices in Spain, Portugal and Morocco.
ARTAI was founded 28 years ago in Galicia and specialises in advising companies in the textile, marine, marine-fishing, logistics and fleet sectors, in addition to risk management for large accounts.
The acquisition comes at a time of continued growth for Howden Iberia, part of Howden Broking. The broker purchased Compensa Capital Humano in July 2020, and in early 2021 launched a new specialist Human Capital team led by Ana Matarranz.
Salvador Marín, CEO, Howden Iberia said: "The acquisition of ARTAI reflects our commitment to specialist expertise, local delivery and people as the basis of our company. The purchase brings us a team with expertise and specialist knowledge that will complement our business, and also share our vision: to offer clients choice and a credible alternative in a consolidating market.”
Jaime Borrás, President of ARTAI, commented: “A company of Howden's size, not only in Spain but worldwide, opens up an incredible range of possibilities and markets for both our employees and our customers."
José Manuel González, CEO of Howden Broking, also commented: "Howden has become a natural home, globally, for top talent in the sector, and a platform where independent and like-minded brokers can join a company with a long term vision and continue to grow their business. This transaction is strongly aligned with Howden Broking’s strategic plan for the next five years, of which one of the main aims is to support and drive forward Howden's growth in Europe.”