Howden, a global insurance intermediary group, makes new Asian acquisition.

Howden has acquired Hong Kong-based Storfield Insurance Consultants, a specialist in general insurance for small-to-medium sized enterprises (SMEs) and high net worth (HNW) clients.

The acquisition has strengthened Howden’s position in Hong Kong and broadened its geographical footprint across Asia.

Established in 1985 by Tony Lau, and led by CEO Victoria Lau, Storfield provides asset protection services to both SMEs and HNW individuals, the firm said in a statement. Storfield’s expertise spans a range of areas including bloodstock, fine art, luxury vehicle and yacht insurance, as well as tailored insurance solutions specifically designed for SMEs. With the addition of Storfield, Howden Hong Kong’s total headcount is about 200, with 17 offices and 1,100 employees across the Asia region. This expansion reflects Howden’s broader strategy to use its global capabilities for the benefit of clients in local markets.

“The acquisition of Storfield marks a major milestone in the development of Howden’s business in Hong Kong. With our combined capabilities, we not only become stronger together but also unlock additional value for our respective clients and insurer partners,” Alfred Sham, CEO, Howden Hong Kong, said. 

“This latest development is another example of Howden’s broader strategy to widen its footprint in Asia, and follows Howden’s recent entry into the Japanese reinsurance and retail markets with the launch of Howden Re Japan, a strategic partnership with Keystone ILS and the acquisition of Foresight,” Chye Huat Goh, regional CEO, Howden Asia, added. 

Founded in 1994, Howden provides insurance, reinsurance and underwriting services and solutions to clients ranging from private individuals to the largest multinational companies. It operates in 55 countries in Europe, Africa, Asia, the Middle East, Latin America, the US, Australia and New Zealand, and manages premiums worth $42 billion on behalf of its clients.