Meet our Team in Iceland

Reykjavik skyline

In December 2020 we opened the first branch of international insurance brokerage in Iceland, providing extensive insurance services, with focus on companies that work both at local and international level. In the international field, we have the assistance and back-up of experienced Howden Group experts around the world, like in Scandinavia and in London where Howden's headquarters are (www.howdengroup.com). We also offer prevention advice, audits, administration, tenders and market evaluation of corporate insurance in domestic markets.

Howden is the largest independent insurance broker in the world, which is expanding rapidly and providing excellent services in all areas of the insurance industry. The company employs 6500+ employees in more than 40 countries and it's turnover is about GBP 1bn. Howden has worked on the Icelandic insurance market since late 90’s in close collaboration with Icelandic insurance companies (reinsurance) as well as servicing customers with various types of insurances from the London and Helsinki’s offices.  Additionally, Howden has provided banks in Iceland with appropriate insurance backing in overseas markets for several years. The opening of the Howden branch in Iceland marks a milestone in insurance brokerage in Iceland, which increases the company's level of service and Icelandic companies' access to international insurance services.

Bjarni Olafsson, General Manager

Bjarni has 25 years of extensive experience in Icelandic and foreign insurance markets. Before joining Howden he worked at Vörður (local insurers) in various jobs, e.g. as a key account manager. Bjarni has been a key account manager for companies such as Isavia, Landsvirkjun, Landsbanki, Íslandsbanki, Arion Banki, Marel, Össur and Eimskip. Bjarni also worked in the Insurance Market in London for several years, where he serviced Icelandic companies with interests and subsidiaries abroad, on behalf of the local insurers Sjóvá. For the last few years he has also worked as a manager, a specialist in risk assessment and loss prevention and has been involved in tender pricing.

Bjarni Olafsson, General Manager
Benedikt Elisson, Director, Risk Management

Benedikt Elisson, Director, Risk Management

Benedikt worked at the Eimskip shipping and logistic company for about 40 years.  For a large part of the time he was the Senior Manager for insurance, claims, risk management and safety and security for the company in Iceland as well as being in charge of similar projects on behalf of the company overseas, in Europe, North America, South America and Asia. The largest portion of the company's insurance needs was placed directly through insurance brokers in London and Scandinavia, where he obtained contacts and knowledge on the international insurance markets.  He also worked on the company’s marketing and operational side in Iceland, Sweden and Newfoundland.

Howden offers among other things the following services:

  • To evaluate whether there is an occasion to tender with local insurances by looking at the current claims history and insurance costs.
  • Review insurance requirements based on today's business set-up and see if anything is excessive or if there are any gaps in the protection.
  • View whether it is possible to optimize insurance purchases, including viewing terms in foreign insurance markets where applicable. Insurances we trade in overseas markets is without intermediaries, reducing our customers' service costs.
  • Loss Prevention work involved in reviewing the processes that are being carried out today, event logging, and more.
  • In addition to general/traditional insurance categories,
    • Expertise related to Cyber Risk insurance, as well as risk assessment and providing quotes in overseas markets.
    • Consideration for the need for liability insurance of the companies’ Directors & Officers and quotes in overseas markets.
  • Assistance with claims issues depending on the event.
  • Other incidental issues related to insurance and risk management.