Howden Has Announced Its Acquisition Of Storfield Insurance Consultants Ltd

This deal is part of Howden’s strategy to enhance its presence in Hong Kong.

Global insurance intermediary group Howden has announced its acquisition of Storfield Insurance Consultants Ltd, a provider of general insurance for small to medium-sized enterprises and high-net-worth clients.

This acquisition is part of Howden’s strategy to enhance its presence in Hong Kong and expand its geographical reach throughout Asia.

Alfred Sham, CEO of Howden Hong Kong, stated that this acquisition marks a significant milestone in the Firm’s growth in Hong Kong.

“With our combined strengths, we not only become more robust but also create additional value for our clients and insurer partners. We are excited to collaborate closely to reach new heights,” Sham remarked.

Storfield was founded in 1985 by Tony Lau and is currently led by CEO Victoria Lau.

The firm specializes in providing general insurance to SMEs and HNW clients, covering a diverse range of areas including bloodstock, fine art, luxury vehicle and yacht insurance, as well as customized insurance solutions for SMEs.

Lau expressed that Howden was the ideal choice for the next phase of the insurer’s growth. “We believe that merging our local expertise with Howden’s global resources will allow us to serve our clients more effectively,” Lau stated.

After the acquisition, Howden Hong Kong will have a total workforce of around 200, with 17 offices and 1,100 employees across Asia. This reflects Howden’s strategy to utilize its global capabilities to benefit clients in local markets.

“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,” said Howden Asia Regional CEO Chye Huat Goh.