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US specialty insurance coverage brokerage and threat supervisor Danger Methods has introduced the acquisition of the US and Canadian working entities of insurance coverage holding firm HWI BV.
The deal, the worth of which was not divulged, contains Hugh Wooden (US) and Hugh Wooden Canada.
Hugh Wooden (US), headquartered in New York Metropolis, presents a spread of insurance coverage options with a give attention to sectors akin to actual property, marine, metals and nice artwork.
The corporate serves a world clientele, together with Japanese purchasers.
Hugh Wooden Canada, situated in Toronto, specialises in advanced business traces placements and private asset safety.
Danger Methods mentioned the acquisition enhances its marine follow, significantly in business marine insurance coverage, offering superior options for world cargo transit and stock dangers.
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It additionally strengthens the corporate’s nice artwork follow with specialty experience in insuring collectibles such cash and stamps for varied purchasers, from business sellers to non-public collectors.
Moreover, Danger Methods’ Canadian operation is predicted to learn from added specialty experience in a number of trade sectors, in addition to business and personal traces coverages.
This transfer follows a strategic assessment by HWI BV of its North American operations, which started in 2021.
HW Worldwide BV chairman David Nelson mentioned: “This is a wonderful alternative for the HWI BV Group and the North American groups, and we see Danger Methods as a perfect companion. The deal will allow the HWI BV Group to proceed to prosper and work along with a improbable companion in North America, in addition to making a relationship that’s really additive to all events.”
Accession Danger Administration Group world CEO John Mina mentioned: “We’re excited to welcome these Hugh Wooden corporations into the Danger Methods household and develop our operations to serve the chance administration and insurance coverage wants of purchasers in Canada.
“Our purpose in buying companies is to carry on specialists with a client-first, collaborative strategy and the potential to each strengthen and develop our attain and capabilities.”
Accession Danger Administration is the mum or dad model of Danger Methods and One80 Intermediaries.
Earlier this yr, Danger Methods acquired Stone Insurance coverage Company, an organization based in 1859 that serves business and private traces purchasers.
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