Sunday, April 21, 2024

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Howden enters captives with Guernsey-based ARM purchase

Howden has ventured into the captive market with the acquisition of Guernsey-based ARM Group Holdings (ARM), the parent of Alternative Risk Management, an independent European insurance manager and a specialist in the formation and management of captives.

ARM is a group of companies that provide insurance management services to clients worldwide. 

The firm also has a management licence in Bermuda, and currently manages around 80 captives.

“In-house captive capabilities are an essential piece of the puzzle in order for us to provide unparalleled solutions for our large and multinational clients,” said Morwenna Howell, managing director and global practice leader at Howden Multinational Clients Practice.

“This is a growing market with strong demand for new entrants, and by harnessing the power of our global network, our market-leading specialty, reinsurance and analytics capabilities, and now, our enhanced captive capabilities, we look forward to continuing our growth.”

Howden’s acquisition of ARM comes amid a flurry of activity within the Guernsey captive market.

Earlier this week, Insurance services provider PoloWorks announced the launch of Polo Insurance Managers (PIM) in Guernsey in a bid to fill the gap left by recent consolidation in the captive management market.

PIM has received ‘approval in principle’ from the Guernsey Financial Services Commission (GFSC) and will be supported by Polo Commercial Insurance Services which employs 350 UK based insurance specialists.

Captive Intelligence reported in January that Strategic Risk Solutions had agreed to buy Robus from Adonagh Group, and we understand there are other remaining independent insurance managers in Guernsey who are in advanced discussions with proposed acquisition partners.

“We have built a robust, successful business in the last 20 years, and joining with Howden represents the logical next step in our journey,” said Charles Scott, managing director at ARM.

“It has been an easy decision to make as we already manage a number of Howden clients, allowing us to get to know them and vice-versa.

“We share Howden’s entrepreneurial spirit and client-centric approach and look forward to providing worldwide captive solutions to Howden and other clients.”