The independent Lloyd’s broker Tysers – which is now part of the AUB Group – has today announced the sale of its bloodstock broking team and the bloodstock managing agent, Galileo, to Howden.

Commenting on the deal, Tysers CEO Clive Buesnel noted that while the business has built an “exceptional” bloodstock business, its focus is no longer in this space. As a result, Tysers has agreed to sell the business and Galileo to Howden, with the sale of the broking business completed on February 1, 2023.

“We are focusing our efforts on building our core business areas to deliver strategic growth, capitalise on new opportunities and ensure that our client-first approach is at the heart of everything we do,” he said. “We are delighted to have agreed the deal with Howden as we believe it is the perfect new home for the teams as Howden have extensive existing capability, an outstanding culture and a real passion for Bloodstock.”

Becoming part of the AUB Group marked the start of an exciting future for Tysers, Buesnel said, as it has joined a company that shares its vision of investing in its teams and empowering broking operations.

David Howden, CEO of Howden, also discussed the acquisition, identifying the deal as a “significant step” in Howden’s strategy of enhancing the scale, depth and expertise of its sport and entertainment specialty practice - of which equine and bloodstock are leading components.

“We will continue to develop our offering by attracting talented individuals to the team,” he said, “who share in Howden’s commitment to equine and bloodstock clients and our passion for the equine world.”

In a Press release accompanying the news, it was identified that Howden is an official partner of Ascot racecourse. In addition, David Howden is the president and founder of the Cornbury House Horse Trials and has also invested in British Eventing through the Howden Way, a training programme for young riders of all levels along with a young horse talent pathway programme.

What are your thoughts on this acquisition? Please feel free to share your comments below.