International insurance adviser Howden has launched into Italy with the acqusition of Italian broker Andrea Scagliarini.
Howden Italy’s launch comes weeks after the appointments of Luigi Sturani and Enrico Nanni as CEO of Europe and CCO of Europe respectively.
The firm added the launch was reflective of its strategy to set up international operations from-scratch, such as the launches in Belgium, Switzerland and Australia, and to empower local teams to find strategic, culturally aligned acquisitions.
Howden’s locations now span more than 40 territories worldwide.
Commenting on the launch, Sturani said: “I joined Howden because I believed the market needed an alternative and that Howden is the company to deliver it.
“Just a month in, I have the perfect example of how Howden is delivering on its ambitions; we’ve built an impressive team, who have chosen to join us as we grow a significant presence in the Italian market, and have now our first acquisition.”
Sturani said he had long admired Scagliarini for its culture, reputation and focus on the client and that it . For us, it represented a “fantastic strategic fit”.
Andrea Scagliarini, founder and chairman of the broker firm added: “We have been approached to sell our business on numerous occasions over many years, but we have always declined.
“Why? Because we value independence and employee ownership and we would only sell to a firm culturally aligned with our own.
“Watching Howden’s CEO speak at a conference last year and hearing how he talked about the culture and his own personal values, we knew then that we have found the right partner.”
Matteo Scagliarini continues as CEO of the company with Andrea Scagliarini remaining as chairman. The pair will join the Howden Italy board.