International insurance broker Howden acquired Hamilton-based Bridges Insurance Services to accelerate its launch into the New Zealand market.
The UK-based group's acquisition follows recent deals for Wallace McLean and Apex Group in New Zealand, as it expands its presence in the Pacific region.
Bridges, founded in 1990, is led by Ron Bridges and director Chris Rolfe. It is focused on mid-market and SME business and services approximately 7,500 customers.
Howden said the new acquisition would play an integral role in its NZ business, “materially broadening” its product offering and ability to serve SMEs and NZ corporates.
Matt Bacon, chief executive officer of Howden Pacific, commented, “We are honoured that Bridges have chosen to partner with Howden and are very proud to be part of the next chapter in their journey. Bridges have a strong track record in the NZ insurance market and have demonstrated an ongoing commitment to client service. Bridges will expand our presence into a new region in NZ and complements our existing business in the country, where we are strongly positioned to provide clients with access to industry-leading insurance solutions and expertise.”
Ron Bridges, director of Bridges Insurance added, “After 34 years of independence, the decision to join Howden is one that we didn’t take lightly. In the end, we felt that culturally Howden was aligned with our existing values, focusing on our people and clients. Becoming part of Howden creates myriad opportunities for the benefit of our clients, such as their international reach, expertise and data and analytics capabilities.
“With Chris Rolfe becoming managing director and all the management team including myself staying actively involved, continuity and a level of comfort for our clients will be achieved. We are thoroughly excited about what the future holds.”
