Foram Brokerage, an independent re/insurance broker based in Bermuda, has been acquired by Howden.
Foram provides speciality brokerage services in Casualty, Energy, Professional Lines, Construction, Product Recall, Property and Healthcare lines predominantly to Fortune 1000 US clients requiring access to the Bermudian market.
Paul Redgate, deputy chair, Howden Specialty, said: “Foram joining us reaffirms our strategy of giving clients access to all key markets via our global insurance market hubs. By providing clients with a significant on-the-ground presence in Bermuda, this acquisition also underscores Howden’s commitment to the Bermudian market by investing in on-island expertise to enhance our client offering and to build a leading position in the world’s leading re/insurance markets.”
Robert Stubbs, president, Foram, said: "As part of Howden, our clients will benefit from the talent, product expertise and data & analytics capability of Howden’s global specialty offering, enabling our company to deliver ever more advanced risk solutions to our clients. In Howden we have found a place which shares our values, allowing us to grow and to continue to focus on the client centricity and innovation for which we are known in the Bermudian market.”
Howden, Foram Brokerage, Acquisition, Bermuda