Global broker Howden has strengthened its marine offering with the acquisition of Bremen-based broker Northern Lloyd, one of the leading marine brokers in Northern Germany.
This acquisition aligns with Howden’s strategy to become the market leader for the marine business in Germany. Through this development, Howden Deutschland will capitalise on growth opportunities in the German marine market and benefit from Howden’s collective power stemming from its global presence.
An independent marine insurance broker, Northern Lloyd is also a licenced Lloyd’s broker with operations in several key territories, including London, Athens, Limassol, and Abu Dhabi. Once the acquisition is completed, the group’s division in the country will comprise 400+ employees across 10 locations.
Howden’s acquisition of Northern Lloyd follows an earlier one in Germany; in March, the broker acquired the Franz Gossler Insurance Group to establish Howden Global Sport & Entertainment. Howden Europe CEO Luigi Sturani welcomed Northern Lloyd to the fold as the newest member in its expanding global footprint.
"Our rapidly expanding marine and energy offering in Europe highlights the need for an alternative choice in the market which can combine the strength of a global broker with the best, local talent to deliver bespoke solutions to clients,” Sturani said. “With the addition of Northern Lloyd, Howden Deutschland is well-positioned to become this broker of choice, delivering for clients with increasingly complex needs and the necessary requirement for both international and local expertise.”
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