Howden Re has opened its first dedicated office in Ireland, appointing David Carpenter as director to lead the Dublin operation. The move signals the reinsurance broker’s intent to build a local presence in a market that has drawn sustained attention from international capital.
Carpenter joins from McGill and Partners. He brings more than 20 years of experience across Dublin, London and international reinsurance markets, with a background spanning both client-facing and broking functions.
Ireland ranks as the fourth-largest insurance market in the EU, generating over €100 billion in annual premiums. International insurers have shifted underwriting and reinsurance operations to Dublin in recent years. The country’s regulatory environment and its position as a bridge between EU and US markets have made it a destination for global risk capital.
The volume of reinsurance flows through the market reflects that scale. Annual filings show 40% of the combined €3.42 billion in premiums generated by Ireland’s five largest insurers were ceded via reinsurance contracts in 2024. Most went to parent firms based outside Ireland, raising questions about transparency in profitability reporting.
That points to an opportunity for locally grounded reinsurance advice. Sebastian Cook, deputy chief executive of Howden Re International, said the broker’s retail colleagues had already established a recognised presence in Ireland.
“Together, we will bring clients closer to the insight, capacity and capital they need, delivered by a team that understands the market and its direction,” he said.
Howden Re said the Dublin office will serve domestic insurers, MGAs and captive operators, as well as global clients with Irish portfolios.
Matthew Westerman, managing director of Howden Re International, UK&I, said demand for specialist reinsurance in the MGA and captive segments is growing in Ireland. He said a local team would make it easier for clients to access broking and advisory services.
The broader European MGA market supports that view. Europe’s MGA sector grew approximately 15% in 2025 to top $23 billion in gross written premium, outpacing US growth of 7%. Howden Re’s own research describes the segment as a “sleeping giant,” pointing to a five-year compound annual growth rate of roughly 23%.
Carpenter framed the office’s purpose directly. “Our focus is to provide clear, practical reinsurance advice that helps clients connect capital to risk more effectively,” he said. “Domestic and international insurers operating in this market, MGAs and captives deserve locally based reinsurance advice, backed by the best analytical and broking expertise in the market.”
Mark Nolan, chief executive of Howden Ireland, said the opening reflected confidence in the market’s long-term potential. He said it was growing in depth and sophistication.
Ireland is not the only jurisdiction bidding for captive business. The UK’s Prudential Regulation Authority is consulting on a new domestic captive regime, with more than 7,000 captives active worldwide writing in excess of US$80 billion in premiums. Ireland’s EU access puts it in direct competition for that business.
The Dublin office adds to Howden Re’s European footprint as international insurers have moved more operations into EU-regulated jurisdictions since 2016.
