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Howden Expands Into Peru With Major Acquisition

Howden has entered the Peruvian insurance market with its acquisition of Contacto Corredores de Seguros S.A (Contacto), an insurance broker in the country. The move also signifies an advancement in Howden’s objective of extending its presence in Latin America, facilitating enhanced client services in the region.

Founded in 1984 by Maximiliano Goller and later acquired by Buenaventura (BVN) in 1987, Contacto stands as the second largest insurance broker in Peru. Operating from its headquarters in Lima, the firm services approximately 3,000 clients and specialises in property-casualty and employee benefits, primarily within the precious metals mining industry.

The alliance between Howden and Contacto commenced in 2017 through the Howden One network, a global network of local strategic broker partners. Upon finalisation, Contacto’s integration will bolster Howden’s Latin American workforce to over 800 employees across Peru, Mexico, Colombia, Chile, and Brazil, with essential support from Howden’s hub in Miami.

“The acquisition of Contacto comes at an exciting time for Howden LatAm. We’ve recognised that demand for specialist insurance solutions is growing significantly in Latin America, and with the Contacto team on board we will be the second largest insurance broker in Peru, providing a credible alternative for clients in the country. Howden LatAm is strengthening its position as a leading broker, combining local, specialised expertise with the scale of Howden’s international offering to meet growing client demand,” Howden LatAm CEO Pablo Bores said.

Source: Insurance Business