Howden: Everything you need to know
Headquarters Address: One Creechurch Place, London EC3A 5AF, UK
Revenue (2021): £1,148 million
Adjusted consolidated EBITDA (2021): £335 million
Size (employees): 10,500
Global offices: Belgium, Cyprus, Estonia, Finland, Germany, Greece, Iceland, Israel, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom, Australia, Hong Kong, India, Indonesia, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand, Brazil, Chile, Colombia, Mexico, Oman, UAE, Tanzania
Underwriting Expertise: Business, motor, private medical, and travel insurance
Key People: CEO: Ross B. Shuster
About Howden
Howden is part of the Howden Group Holdings and provides insurance broking, risk management, and claims consulting services worldwide. The company supports clients through more than 15,000 specialists in over 90 territories worldwide. It offers wholesale and reinsurance policies for individuals, companies, and professionals in various industries.
Howden believes that putting its people first will grow the business and help the company support customers better. About 1,300 of its employees currently hold approximately 35% of shares in the company.
History of Howden
Howden was founded in 1994 to build solutions around clients by accessing global knowledge and expertise that are appropriate for solving risks. Over the years, the company has focused on putting its people first to grow the business and support customers properly.
In 2019, Howden acquired independent employee benefits broker Norwegian Insurance Partner AS (NIP) to become a top-five broker in the country and a market leader in employee benefits. It also acquired independent Greek broker Matrix Insurance & Reinsurance Brokers to enhance the company’s offerings.
Leadership at Howden
Ross B. Shuster – CEO
Shuster joined Howden in October 2019 as its chief executive officer. Before joining Howden, he spent 12 years leading various regional and international business units at United Technologies.
Shuster served various senior positions at United Technologies, with his first role as the president of the Carrier Air-Conditioning unit from March 2007 to September 2011. He then served as the president of the UTC Climate, Controls, & Security unit from September 2011 to September 2013; president of the UTC Building & Industrial Systems unit from September 2013 to September 2015; and the global unit president for the Climate, Controls, & Security business unit from 2015 to 2019.
Culture at Howden
Howden recognises the importance of corporate social responsibility (CSR) on its people, business, and local communities. As a result, it develops initiatives that would help it deliver its strategic aims and create a healthy working environment for its employees.
Howden established the Howden Group Foundation in March 2014 to align its donations and other initiatives with its objectives: relief of sickness, poverty, unemployment, and disasters; the advancement of education; and environmental stability. The employees participate in the selection of charities or organisations to support, while the company matches up to £750 of fundraising per employee each year.
In 2018, the company launched the charity initiative Million for a Million. It aims to raise US$1 million by encouraging employees and key business partners to take part in fundraising events and challenges in support of Black Dog Institute, Cancer Research UK, InteRed, and Plastic Oceans.
Howden at a glance – 2021
- Successfully integrated leading high street broker A-Plan and acquired Aston Lark, enabling the company to offer the broadest product offering in the UK, whilst cementing its position as the international challenger broker
- Deepened expertise and presence in new and existing markets, including Spain, Italy and Mexico and a start-up platform in Switzerland. Investments in Estonia, Belgium, Norway, the UK, Hong Kong and Bermuda were made post-period end
- Launched retail broking operation in Australia, New Zealand, and Italy, and the opening of an office in Reykjavik, Iceland.
- 1,300 people joined the company this year, including senior hires in Europe and the Asia-Pacific region and across product areas, including Sustainability, Construction and Sports, and Entertainment
- Howden Reinsurance’s focus on building its treaty business and offering a broader product offering was underpinned by new talent choosing to join the company
- Launched NOVA, a “first-of-its-kind insurance” business intelligence platform that enables users to better understand the insurance market and its drivers and capitalise early on market opportunities.
