Howden merges with Maxi in Thailand

Howden merges with Maxi in Thailand | Insurance Business

Howden merges with Maxi in Thailand

Howden Insurance Brokers Thailand and Maxi Insurance Broker Co. have merged to form Howden Maxi, a top 10 insurance brokerage in the Southeast Asian country.

According to a statement by the firms, the merger brings together the specialist expertise of the two businesses and the reach of the Howden global network, allowing Howden Maxi can provide the full range of direct insurance and reinsurance services – both within Thailand and internationally – to both commercial and consumer markets. It specialises in motor, property & casualty, transportation, jewellers’ block, financial lines, employee benefits, and reinsurance.

As a result, Howden Maxi is now part of both Howden Broking Group, a global independent retail broker under the Hyperion Insurance Group, and Master Group Corporation (MGC), one of the largest companies in the Thai automotive sector.

Jittiwut Sasibutra (pictured right), founder and managing director of Maxi, has been appointed CEO of Howden Maxi.

“As part of a leading international insurance group, we can offer a wider, better range of insurance solutions to our clients and, because that group is Howden, we can do so without losing any of the positive cultural attributes that have been integral to our success,” said Sasibutra. “The teams of both businesses have already settled comfortably under the new name of Howden Maxi and we look forward to a very exciting future together.”

“Building scale in our operations is a key strategic objective for Howden Asia,” said Goh Chye Huat (pictured left), CEO of Howden Asia. “By bringing together Howden and Maxi, we have doubled the size of our Thai business and will significantly increase the prominence of the Howden brand in the local market. This really is a transformational step for Howden in Thailand.”