Howden has promised to fight against paying €1.76m in compensation to a Spanish broker for breach of covenants.
Ealier this month, a Madrid judge ordered Howden Iberia to pay €1.7m and €200,000 prosecution costs to Seville insurance broker Morera & Vallejo.
The dispute started five years ago when Howden Iberia recruited staff from Morera & Vallejo. The staff then allegedly rifled through their old contacts book to win over Morera & Valejo clients to Howden Iberia, in breach of contract.
But Howden chief executive Tim Coles said today: “We do not agree with the decision and we will be appealing.”
The case will now go to the appeal at the Court of Madrid.
A spokesman for Morera & Vallejo said: "There is no doubt justice has been done."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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