Howden has announced its definitive agreement to acquire NORTH Risk, Denmark’s esteemed fourth-largest insurance intermediary.
This strategic move not only marks Howden’s inaugural retail venture into the Danish market but also significantly amplifies footprint across the Nordic region of Europe.
Aligned with Howden’s ongoing commitment to infuse local expertise with global prowess, this acquisition is a testament to dedication to investing in regional specialist knowledge. By integrating extensive international network and advanced data analytics capabilities, Howden aim to deliver unparalleled service and insights to clients in these local markets.
Established in 2021 by the Danish private equity firm Polaris, NORTH Risk emerged from the consolidation of four SME-centric financial services distribution and advisory entities.
We at Howden are excited about this new chapter and the opportunities it brings to better serve our clients and stakeholders in these dynamic markets.
Luigi Sturani, CEO, Howden Europe
“Together, we will continue to scale the business that will in time include reinsurance and other specialty lines, whilst accelerating the impressive growth in the business to date. This is our largest acquisition in Continental Europe after Italy’s Assiteca and shows not only the scale of our ambition, but also the compelling opportunity that Howden offers to the right companies with the right culture”, Luigi Sturani says.
NORTH boasts a robust focus on serving commercial SME clients and their employees with a comprehensive suite of services, including General Insurance, Life and Pensions, and Financial Services encompassing Mortgages and Financial Procurement. Poised for expansive growth, NORTH is powered by a team of exceptional calibre.
As Polaris’ investment period culminates, the decision to partner with Howden for NORTH’s future growth trajectory is a deliberate one.
This choice is underpinned by mutual commitment to entrepreneurial dynamism, cultural congruence, and a relentless focus on client-centricity.
NORTH’s management team is keenly aware of the immense potential that Howden’s network offers in creating synergistic opportunities that will fuel sustained growth.
This expansion into Denmark signifies a milestone for Howden, marking it as twentieth Continental European territory. More so, it completes Nordic region presence, a journey that began over two decades ago with Howden’s first office in Finland, followed by subsequent establishments in Sweden, Norway, and Iceland.
Nordic operations cater to a diverse client portfolio, specializing in sectors ranging from renewable energy to real estate and M&A.
NORTH is run by Lars Gundorph, who will head up Howden’s activities in Denmark. He was previously CEO of Willis Denmark.
Our experience representing Howden in Denmark has led us to recognise them as the most competent and progressive players on the international stage, with a genuine owner’s mindset
Lars Gundorph, Group CEO of NORTH
Howden is the match for NORTH, both in terms of business and culture. Their international outlook make an ideal partner to realise our full growth potential in Denmark.
Rune Lillie Gornitzka, partner, Polaris, concludes: “NORTH has rapidly evolved into a strong and unique advisory firm, thanks to the tireless efforts of everyone within the organisation. At Polaris, we have contributed by leveraging our industry insight and extensive experience in developing partnerships that create new opportunities and value for clients. We are pleased to have played a part in establishing a clear market leader, now well-positioned for further development with Howden.”
NORTH Risk is a prominent player in the Danish insurance sector.
As an insurance intermediary, NORTH Risk operates by connecting clients with insurance providers, facilitating the sale and management of insurance policies. The company focuses on servicing commercial clients, particularly small and medium-sized enterprises (SMEs), along with their employees. The range of services provided includes General Insurance, Life and Pensions, and Financial Services, which encompasses areas like Mortgages and Financial Procurement.
by Yana Keller
