Howden Insurance Brokers has acquired the business and assets of Singapore-based specialist insurance agency Aegis Insurance Agencies for an undisclosed sum.
Launched in 2003, Aegis offers bespoke retail insurance solutions, specialising in professional indemnity, professional liability, pilot loss of license protection, and bonds and financial guarantee schemes.
It has a history of working with many private education institutions in Singapore, providing them with fee protection and medical insurance cover.
Richard Tay, co-founder of Aegis, said: “Our clients will benefit from Howden’s scale, international depth and breadth, and access to top quality technology and digital solutions. Howden is a perfect fit for our team, and we look forward to continuing our growth and remaining committed to delivering for our clients as part of Howden.”
Evan Chng, fellow co-founder of Aegis, said: “Joining Howden enables our clients to benefit from the scale of Howden’s international specialty offering. As an employee owned company with a ‘people first’ culture that shares our commitment to client centricity and innovation, our people will be empowered to deliver ever more advanced risk solutions to clients as part of Howden. We’re looking forward to growing our business with Howden in the future.”
Goh Chye Huat, CEO, Howden Asia, added: “The acquisition of Aegis reflects our broader strategy of empowering local teams to partner with culturally aligned companies with a shared entrepreneurial culture, and is a further step in our strategy to enhance our operational capabilities and client offering in Singapore.
“Evan Chng and Richard Tay have built a highly respected business that is a market leader in its chosen segments, and its commercial portfolio will help us diversify our business, expands our breadth and depth of specialism in Asia.”
