Howden expands NZ footprint with Wallace McLean acquisition

Howden expands NZ footprint with Wallace McLean acquisition | Insurance Business New Zealand

Howden expands NZ footprint with Wallace McLean acquisition

Howden has acquired Auckland-based broker Wallace McLean, as it seeks to strengthen its local expertise and aid its growth plans in New Zealand.

Wallace McLean was founded in 2001 and has long-standing corporate clients in New Zealand and internationally. It specialises in multiple areas, including property, agriculture, shipping and freight operations, bodies corporate, self-storage, film and entertainment, retail and distribution, and engineering and professional services.

"We chose to join up with Howden because it offers us international depth and breadth and allows access to global insurance markets to offset the current New Zealand insurance market conditions,” said Nigel Wallace, founder and principal of Wallace McLean. “We believe that this strategic partnership will enable us to continue and build on our growth strategies by future-proofing the insurance requirements of our clients. Myself, the management team, and all our staff are delighted to be joining Howden, and we are looking forward to accessing the additional expertise, resources, and technology that is now readily available to us.”

London-headquartered Howden is a recent entrant to the Australasian markets, setting up shop in Australia in March 2021. It launched in New Zealand in November with the opening of the Howden Broking and Howden Care businesses.

"This is a very exciting time for Howden in the Pacific, and we are honoured that Wallace McLean has chosen Howden to partner with,” said Matt Bacon, CEO of Howden Pacific. “Wallace McLean is a highly regarded broker, with a very talented and experienced team, and we are delighted to welcome them into the Howden fold. This acquisition is another great step forward in our strategy to expand our platform in New Zealand and continue to offer a choice to clients and talent in this key Pacific market.”