Howden acquires broker to expand in Channel Islands

Howden has acquired Polygon Insurance Brokers (PIBL), a retail insurance broker based in the Channel Islands. 

PIBL, previously known as Vantage Insurance Brokers, provides propositions tailored to the offshore financial services sector, high net worth individuals, family offices and trust companies operating in Jersey and Guernsey, with specialisms in professional indemnity and financial institutions insurance, D&O and cyber liability products.

“By joining Howden, with its growing presence in the Channel Islands alongside its global network, PIBL will be better positioned to provide enhanced solutions and capabilities to clients,” Henry Mowbray, managing director at PIBL, said.

Martin Ellis, managing director and global practice leader for professional services at Howden, added: “The acquisition of PIBL strengthens our ability to service the full spectrum of clients in Jersey and Guernsey, from corporates to high net worth individuals.

”By combining PIBL’s strong local relationships and client service with Howden’s specialist expertise and global capabilities, we’re creating even stronger outcomes for clients by expanding the breadth of solutions and market access available to them to meet their evolving needs.”

Growth

The acquisition of PIBL follows Howden’s recent purchase of Guernsey-based ARM Holdings, a specialist in the formation and management of insurance captives, and is another step in its strategy to grow its business in the Channel Islands.

Carl Shuker, deputy chairman at Howden UK&I, said: “Combining PIBL with our existing business in the Channel Islands creates a meaningful platform for growth in this very important market and we are looking forward to an exciting new chapter in the Howden growth story with the addition of PIBL’s expert team.”