|  |  |  |  | |  | Resources Howden enters the international property market15th February 2006Howden, the leading independent Lloyd’s broker specialising in business critical insurances, today announced its entry into the international property market through the establishment of a specialist new division. Led by Philip Bond, the former MD of Worldwide Property at PWS, Howden Property will focus on delivering insurance solutions for complex and catastrophe-exposed risks.
Neil Holden, Paul Foster, and John Penney formerly of PWS will be joining Philip. He has also recruited Karly Shaw, Lucy Waller and Hannah King all from Aon, and will continue to recruit talented individuals to further build his team over the coming months.
Tim Coles, CEO of Howden, comments: “This move has been driven, in part, by our overseas clients who want to experience the same level of expertise and service for their complex commercial property needs as they have enjoyed from Howden supporting their liability needs. We have built a reputation for finding solutions where others have failed to deliver, and so our entry into the international property market represents a natural step forward in the territories in which we have major growth aspirations and in those where we already have a strong presence.
“By broadening our business critical insurance capability we intend to add a potent new offering to our overseas retail offices where, in regions such as Europe, the Middle East and Asia, we are already achieving impressive growth through our liability lines.”
The international property market is worth an estimated £500 billion in premium, and Howden Property is aiming to achieve a significant market share over the coming years. The business will be based at Howden’s headquarters in the City of London.
Coles concludes: “Philip has an outstanding reputation in the international property market, having built up the Worldwide Property Division at PWS into one of its most successful divisions. We have a tradition at Howden of building specialist divisions focused on niche lines of business critical insurances, and we’re confident that Howden Property will become a sizeable contributor to the continued growth of our group.”
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