Howden has continued his European expansion with the acquisition of Spain's largest independent corporate broker, ARTAI, at an undisclosed price.
The relocation will lead Howden to grow its presence in the Spanish region, with its Iberia unit set to handle more than $ 420.2 million in gross premiums and employ over 600 people in Spain, Portugal and Morocco.
The transaction is subject to regulatory approval.
ARTAI was founded 28 years ago in Galicia and specializes in advising textile, marine, marine fishing, logistics and fleet companies as well as risk management and large accounts.
The acquisition comes at a time of continued growth for Howden Iberia. It acquired Compensa Capital Humano in July 2020 and in early 2021
The Howden Group is also expanding rapidly throughout Europe and this week launched a new retail business in Switzerland to serve the local market and multinational customers. The insurance broker has appointed Aon PLC's Felix Jenny as CEO of the new office.
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