Howden has expanded its captive footprint with the acquisition of Foresight Holdings Co. Ltd in Japan, bringing with it captive consulting and management experience in Micronesia to the fast-growing group.
Howden’s first dip into the captive market came in February when it bought independent Guernsey captive manager Alternative Risk Management.
The broker has also appointed Takuya Aibe as CEO of Howden Japan’s retail business. Aibe has previously worked for Marsh Japan and was most recently CEO of Gallagher Japan.
As well as offering retail brokerage services, Foresight provides captive consulting in Japan and a captive management operation in Micronesia, which is one of the preferred captive domiciles of Japanese corporates.
Howden said Foresight manages 13 captives for Japanese corporates.
Kentaro Tada, CEO of Howden Japan, said:“Partnering with Foresight represents a big leap forward in the development of a broader offering for our Japanese clients, and means Howden Japan can now offer retail broking and captive management services alongside its reinsurance and ILS capabilities.”
Kenichiro Hamada, CEO at Foresight said: “After almost twenty years of developing our business, joining with Howden is the next significant step in our growth journey.
“It means that together, we can leverage the full force of our expertise and Howden’s global capabilities, enabling us to better serve clients and develop a leading market position in a highly fragmented captive market.”
Foresight is headquartered in Tokyo with 17 staff across six offices.