Howden, part of Hyperion Insurance Group, has expanded its global employee benefits (EB) business with the acquisition of Colombian EB specialist Restrepo Henao S.A. Corredores de Seguros.
The deal will see Restrepo Henao, which has over fifty years of experience in insurance broking, merged into Howden Wacolda (Colombia). Restrepo Henao will adpot the Howden brand over the next few months.
A spokesman for Howden said the deal marks another “important step” for Howden’s global employee benefit practice following its acquisition of Punter Southall Health & Protection in the UK in January which was rebranded as Howden Employee Benefits & Wellbeing in June, and the acquisition of Norwegian Insurance Partner in Norway in April.
Glenn Thomas, managing director of Howden Employee Benefits & Wellbeing and global practice leader, said: “Howden has a strategy of investing in the growth of our EB capability globally to support our multinational clients. This latest acquisition will build on our existing business and strengthen our EB offering in Latin America, an increasingly important market in the sector.
“Howden already has a presence in Brazil, Mexico and Colombia with Howden Harmonia Brazil our most established EB business in Latin America.”
Terms of the acquisition have not been disclosed.