Howden Broking Group is acquiring Endsleigh parent firm A-Plan Group in a deal that is set to create what is described as a “UK broking powerhouse,” which operates from over 100 locations and manages in excess of £4 billion in gross written premium for 1.5 million clients.
The acquisition, financial details of which were not disclosed and is subject to regulatory approval, will make Howden’s parent Hyperion Insurance Group – the name behind DUAL and RKH Specialty – the fifth largest employee-owned business headquartered in the UK.
In a release this morning, international insurance broking group Howden noted that Carl Shuker will remain at the helm of A-Plan Group in his capacity as chief executive. He will report to Howden CEO José Manuel González.
Meanwhile Howden UK deputy chief executive Chris Evans will take on the additional remit of A-Plan Group chair – a post currently held by Max Carruthers, who will continue to support the personal and commercial lines insurance broker following completion of the transaction.
“I am thrilled that Carl and his team have chosen to join Howden as the place to deliver their ambitious growth plans in the UK,” commented Hyperion CEO David Howden. “This is an incredibly important partnership for Howden and creates a significant opportunity to deliver a better and broader offering to both groups’ clients.”
For Shuker, “it was instantly evident from the start of our discussions that we were very aligned on the central importance of people, clients, and insurers, and that we would make for a very natural fit.” He added that the markets served by the two camps are highly complementary.
“We continue to build a business where entrepreneurial talent can thrive, with the belief that when they do, our people will in turn do great things for our clients,” said González. “By joining with A-Plan Group we stay true to this story – partnering with a business that truly shares our vision and values.”