Howden acquires leading marine insurance broker

U.K.-based Howden Broking Group Ltd. has acquired Australian specialty insurance broker AlphaXO Risk Partners, by raising its shareholding in AlphaXO to 100%, Asia Insurance Review reported. AlphaXO is one of the leading marine insurance intermediaries in the Pacific region and focuses on marine insurance, covering hull and machinery, protection and indemnity, cargo, marine liabilities, shipbuilding and repairing, and all associated risks, including cyber, war, and kidnap and ransom.