Howden Group said it will acquire ARM Group Holdings Ltd., the parent of Alternative Risk Management, giving Howden an in-house captive manager and greater international reach.
ARM is one of the largest independent insurance managers in Europe and a specialist in the formation and management of insurance captives, Howden said in a statement. The deal advances Howden’s strategy to accelerate the growth of its multinational clients practice, the broker said.
The deal is subject to regulatory approvals.
An effort to reach Howden was not immediately successful.
ARM is based in Guernsey and has a management license in Bermuda, Howden said. It is a group of companies that provide insurance management services worldwide and manages more than 80 captive structures.
“In-house captive capabilities are an essential piece of the puzzle in order for us to provide unparalleled solutions for our large and multinational clients,” said Morwenna Howell, managing director and global practice leader, Howden Multinational Clients practice, in a statement. Captive management is a growing market with strong demand for new entrants, Howell said.
“We have built a robust, successful business in the last 20 years, and joining with Howden represents the logical next step in our journey,” Charles Scott, managing director, ARM, said in a statement.
PoloWorks recently launched European captive and commercial lines agency Polo Insurance Managers following approval in principle by the Guernsey Financial Services Commission. PIM, an insurance manager in Europe, will serve captive, commercial and insurance-linked securities clients, PoloWorks said at the time.