Howden Acquires Independent Italian Broker Andrea Scagliarini SpA

Howden, the London-based insurance broker, announced an agreement to acquire Italian broker Andrea Scagliarini SpA.

Financial details of the transaction were not disclosed.

By establishing operations in Italy, Howden adds another market to its growing European platform, which enables it to deliver service to both local and multinational clients, said the broker in a statement.

The launch of Howden Italy comes just weeks after the announcement of Luigi Sturani and Enrico Nanni as CEO, Europe and CCO, Europe, respectively. It also reflects Howden’s ongoing strategy to set up “from-scratch” operations, such as the recent launches in Belgium, Switzerland and Australia, while empowering local teams to find strategic, culturally aligned acquisitions.

Following the Italian acquisition and recent country launches, Howden’s global footprint now spans over 40 territories worldwide.

“I joined Howden because I believed the market needed an alternative and that Howden is the company to deliver it,” commented Sturani.

“Just a month in, I have the perfect example of how Howden is delivering on its ambitions; we’ve built an impressive team, who have chosen to join us as we grow a significant presence in the Italian market, and have now our first acquisition,” he added.

“Scagliarini is a broker that I have long admired for its culture, reputation and focus on client excellence – a real Rolls Royce in the industry. For us, it represents a fantastic strategic fit and the perfect way to truly launch ourselves in Italy as a credible alternative with a difference,” Sturani continued.

“We have been approached to sell our business on numerous occasions over many years, but we have always declined. Why? Because we value independence and employee ownership and we would only sell to a firm culturally aligned with our own,” said Andrea Scagliarini, founder and chairman.

“Watching Howden’s CEO speak at a conference last year and hearing how he talked about the culture and his own personal values, we knew then that we have found the right partner,” Scagliarini added.

Matteo Scagliarini will continue as CEO of the company and Andrea Scagliarini will remain as chairman; both will join the Howden Italy board.

“As a Howden One partner since 2017, we have felt like part of the family for many years. But it also means we know, understand and respect each other and share the same values and objectives. We are sure that by joining Howden, our company will be able to deliver ever more sophisticated risk solutions to our clients, with the same professionalism, accuracy and client-focused approach we have always had,” according to CEO Matteo Scagliarini.

Source: Howden