Howden buys majority stake in Finnish broker

Howden Broking Group has bought a majority stake in Finnish broker Colemont Finland.

The company was previously a division of Lloyd’s broker Colemont, now owned by US broking group AmWINS.

Colemont Finland operates in the real estate, corporate, aviation and marine insurance markets.

Jorma Hakonen will continue to lead Colemont Finland as managing director. He will work closely with Howden Finland’s managing director Pasi Heikkinen, who will take on an executive role in the newly merged company.

Howden chief executive Tim Coles said: “Adding Colemont Finland to our Nordic operation hugely complements our aspirations to deliver pan-Nordic capabilities to our clients.

“Colemont Finland is extremely well respected in the industry and is recognised for its leading insurance sector real estate capabilities.

“Under Jorma’s leadership the operation has developed into a 50-strong team with solid casualty, marine and aviation experience, in addition to its outstanding real estate arm.

“With a retail strategy that brings the complementary skills of our Nordic teams together we can ensure we remain strongly equipped to deliver for our clients across the region.”

Hakonen added: “Over the past eight years we have worked hard to build a successful insurance broker, and this is an exciting next step for us.

“Joining Howden provides a great platform on which we can build an even stronger position in the Nordic market.”

AmWins international president Frank Murphy said: “The sale of our operation in Finland is part of a stated strategy to focus our global operations in specific geographical hubs. We are very grateful to Jorma Hakonen and his team at Colemont Finland for their contribution to the business and we wish them every success in their new partnership with Howden’s Nordic operations.”