Howden Broking Group, part of international insurance and reinsurance distribution group Hyperion, has acquired the insurance operations of Singapore-based Accette Insurance Group, which was a part of The Zuellig Group.
Accette is an independent insurance broker with offices in Hong Kong, Indonesia, Malaysia, Philippines and Thailand.
However, the Howden Broking Group has not acquired the Indonesian operations, which is subject to regulatory approval.
With the addition of Accette’s offices, the Howden Broking Group now has 14 offices in eight countries across Asia, according to insurer.
As a part of this acquisition, David Zuellig, director of The Zuellig Group, of which Accette Insurance Group was a part, will remain involved in the strategic development of Howden’s operations in Asia as non-executive chairman of the broking group’s Asian holding company.
Hyperion Insurance Group chief executive David Howden said the expansion in emerging markets is a major part of our growth strategy, and this acquisition is an important step towards achieving ambition for Howden Broking Group to become one of Asia Pacific’s major insurance brokers.