Howden, part of Hyperion Insurance Group, has announced that it has entered into a strategic partnership with one of Tanzania’s oldest insurance brokers, B.R. Puri & Company Limited, by establishing a newly formed local entity, Howden Puri Insurance Brokers Limited.
David Howden, CEO of Hyperion and Howden, said: “This is an excellent partnership for Howden in Africa and we are delighted to be working with B.R. Puri. As one of the market leaders in Tanzania, their strong client focus makes them a natural match for Howden. Joining forces means Howden Puri is well placed to service local businesses as well as the international community in Tanzania, East Africa and beyond. The opportunities for growth are very exciting.”
Commenting on the announcement, Arun Puri, Chairman, Howden Puri said: “BR Puri & Company, founded by my father in the 1950s, was one of the first insurance brokerage firms in Tanzania. I am convinced that the combination of our local knowledge and experience and Howden’s expertise and global reach will be of great benefit both to our existing and new clients.”
Umesh Puri, CEO, Howden Puri, added: ‘’As a forward-looking broking firm in Tanzania, our goal is to actively explore new insurance products and pave the way for innovation in our market. Tanzania was selected as the first direct investment for Howden in Africa because we believe that recent initiatives undertaken by the regulator are encouraging and the overall outlook for the country is positive.”