Howden acquires leading corporate Spanish broker ARTAI
Howden has continued its European expansion with the acquisition of Spain’s largest independent corporate broker, ARTAI, for an undisclosed price.
The move will see Howden grow its presence in the Spanish region, with its Iberia unit set to manage more than $420.2 million in gross written premiums and employ over 600 people across 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-managed and large accounts.
The acquisition comes at a time of continued growth for Howden Iberia. It purchased Compensa Capital Humano in July 2020, and in early 2021 launched a new specialist human capital team led by Ana Matarranz.
Howden Group is also expanding rapidly across Europe and this week launched a new retail operation in Switzerland to serve the local market and multinational clients. The insurance broker has appointed Aon PLC’s Felix Jenny as CEO of the new office.
Commercial Risk Europe is a sister publication of Business Insurance. More stories from CRE here.
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