UK-based Howden Broking Group Ltd. said on Monday that they have agreed to acquire Safeonline, a cyber and tech specialist and Lloyd & # 39 ;s London coverage holder. strengthen its retail cyber platform and increase its presence in the US wholesale cyber sector, Howden said in a statement in London. Howden said.
Safeonline has its own insurtech platform, iQ, which quotes and binds online and distributes to both UK SMEs and the international wholesale sectors, the statement said.
Safeonline offers a range of coverage including cyber and tech, financial and professional lines, software and binders and contingency and is a member of the Brokerslink network. Its technology will be rolled into Howden's data and analytics business.
"Cyber as a class has grown significantly for us in recent years and this acquisition exaggerates our growth in this important market," Charlie Langdale, CEO, Financial Lines, said in the statement.