Howden builds Hong Kong presence with Storfield acquisition

Howden, has announced the acquisition of Storfield Insurance Consultants, a specialist in general insurance for small-to-medium sized enterprises (SMEs) and high-net-worth (HNW) clients.

The broker said the move would strengthen its position in Hong Kong, broadening its geographical footprint across Asia, and underlining a commitment to specialty business in the region.

With the addition of Storfield, Howden Hong Kong’s total headcount is approximately 200, the broker said.

Regionally it brings Howden up to17 offices and 1,100 employees across Asia.

Established in 1985 by Tony Lau, and led by CEO Victoria Lau, Storfield provides asset protection services to SMEs and HNW individuals.

The business’s focuses span bloodstock, fine art, luxury vehicle and yacht insurance, and tailored insurance solutions designed for SMEs.

“The acquisition of Storfield marks a major milestone in the development of Howden’s business in Hong Kong,” said Alfred Sham, CEO, Howden Hong Kong.

“With our combined capabilities, we not only become stronger together but also unlock additional value for our respective clients and insurer partners. We look forward to working closely together to achieve new heights,” Sham said.

Tony Lau, Founder of Storfield, said: “After almost 40 years of independent growth, Howden is the natural choice for the next chapter of Storfield’s growth. We are confident that the combination of our local expertise and Howden’s global capabilities will enable us to better serve our clients.”

Chye Huat Goh, Howden Asia’s regional CEO, said: “This latest development is another example of Howden’s broader strategy to widen its footprint in Asia, and follows Howden’s recent entry into the Japanese reinsurance and retail markets with the launch of Howden Re Japan, a strategic partnership with Keystone ILS and the acquisition of Foresight.”