Howden, a global insurance broker, has acquired all of the shares in AlphaXO Risk Partners (AlphaXO), a Sydney-based insurance brokerage specializing in niche markets.
Howden has made it clear that Mr. Andrew Glover will continue in his post as managing director at AlphaXO.
Since its founding in 2007, AlphaXO has grown to become a preeminent insurance brokerage and risk consulting firm in the Pacific Rim. Furthermore, the company is a top marine insurance intermediary in the area due to the expertise of its staff in crafting unique policies for ships and their employees.
AlphaXO advises on all types of maritime risks, ranging from hull and machinery, protection and indemnity, cargo, marine liabilities, shipbuilding and repairing, and all associated risks, including cyber, war, and kidnap and ransom.
"Increasing our shareholding in AlphaXO strengthens our position in the Australian, New Zealand, and Pacific insurance markets," stated Mr. Matt Bacon, CEO, Howden Pacific, in commenting on the acquisition. It exemplifies our dedication to creating a market-dominating enterprise in the region by prioritizing the cultivation of lasting client partnerships and providing comprehensive service.
According to Mr. Glover, "We have enjoyed a longtime partnership with the Howden Group, who took an initial equity position in the business about ten years ago. With Howden's expansion into the Pacific, we believe the moment is perfect for increased collaboration between our companies.
