Howden acquisition strengthens Asia offering

International broker Howden has acquired Expat Marine (EML). The Hong Kong-based employee benefits and general insurance broker serves individuals and small businesses, focused on fine art insurance, yachts and pleasure craft. It was founded by its CEO Peter McTavish.

The acquisition reinforces Howden’s commitment to the Hong Kong market and its ongoing strategy to “invest in expertise”, it said. As a Lloyd’s cover holder, EML complements Howden’s existing expertise and product range.

Mark Johnson, chief executive officer of Howden Hong Kong, said: “EML will further strengthen Howden Asia’s spectrum of capabilities across a wide range of specialty lines, while EML’s clients will benefit from Howden’s international platform, talent and data and analytics capability.

“Peter McTavish has built a highly respected business with long-term links to the Hong Kong business community, and his business is completely focused on clients’ needs and providing high levels of personal service. This deal marries two very complementary companies with people and clients at its core.”

Julian Franzman, regional head of Howden Marine Specialty, added: “This acquisition will strengthen our overall offering for our Marine clients in Hong Kong, and reiterates Howden’s ongoing strategy of empowering local teams to partner with culturally-aligned companies with a shared entrepreneurial culture to enhance our client offering across the globe.”