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Informa Insurance News 24

HOWDEN BUYS MAJORITY STAKE IN MEXICAN BROKER

UK insurance broker Howden has acquired a majority stake in Mexican intermediary Adrisa. The acquisition was part of an agreement between Howden subsidiary Grupo Ordás Howden and Adris to create the largest independent employee-owned broker in Mexico, with over 350 employees. The two entities will merge post-completion with Luis Suarez de Lezo as CEO and Jose Luis Ordás as executive chairman. The new partnership builds on the existing strategic agreement between Grupo Ordás and Howden, which was signed in 2017. De Lezo said the transaction will “provide compelling opportunities for growth”. The deal comes just weeks after Howden agreed to acquire A-Plan Group from private equity firm Hg. The transaction also saw Hg invest in Howden’s parent company, Hyperion Group.

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