Howden acquires Haakon AG, creating the largest reinsurance broking team in Switzerland

London / Zug / Basel, 5 December 2023 - Howden, the global insurance broking group, today announces the acquisition of Haakon AG, the specialist international reinsurance broker based in Switzerland. The transaction accelerates Howden’s ambitions to create the reinsurance broker of choice in Switzerland whilst further strengthening its differentiated and growing European reinsurance platform. 

Formerly part of the Baloise Group, Haakon has offices in Basle and Kuala Lumpa and brings a 43-year track record of providing treaty, facultative and complex reinsurance solutions to clients in Switzerland and across Europe, Asia and the Middle East. 

The transaction immediately creates the largest reinsurance broking team in Switzerland, bringing a culturally aligned senior team with unrivalled domestic expertise and technical capability which will deepen Howden’s product offer and services for clients.  

Haakon will benefit from Howden’s rapidly growing domestic reinsurance offer as well as its renowned international reinsurance platform as it continues to focus on meeting the growing demands of large global clients, domestic and regional insurers, MGAs and reinsurers. 

The transaction will be Howden Switzerland’s ninth acquisition in two years, providing further momentum to its ambitious growth strategy and underlining Howden’s position as the home for independent brokers domestically and across Europe. 

Ivo Gugolz, CEO Reinsurance, Howden Switzerland commented: "We’re delighted that Haakon has chosen Howden as its long-term home. The reputation Haakon has built over four decades is unique and by creating the largest reinsurance broking team in Switzerland, we’re bringing a new and exciting long-term proposition to clients and talent.”  

Thomas Meier, CEO Haakon said: "This is a defining moment in Haakon’s long history. In Howden we have found an independent, long-term partner with a shared vision and culture which puts clients at its heart and empowers the industry’s very best entrepreneurial talent. Combining with one of the world’s leading reinsurance brokers gives us the scale, depth of talent and distribution capabilities to continue to grow our business for the long-term. We look forward to writing the next chapter with our new colleagues at Howden Switzerland." 

Massimo Reina, Head of Howden Tiger International added: “The success of Howden’s European reinsurance platform has been predicated on attracting highly talented local, like-minded, independent broking specialists with leading reputations for delivering the very best client solutions. In Haakon, we have found the ideal partner to bring a step change to our reinsurance ambitions in Switzerland as well as strengthening our position as one of the leading reinsurance brokers in Europe.”