Global insurance group Howden has further solidified its position in the Norwegian market through the acquisition of Arctic Insurance AS, a rapidly growing insurance broker based in Oslo.
This strategic move is in line with Howden’s broader plan to bolster its footprint in the Nordic region, focusing on investing in local expertise and providing global capabilities to clients within regional markets.
Established in 2014 with the backing of Arctic Group, Arctic Insurance specializes in Property & Casualty, Financial Lines & Specialty, Employee Benefits, and Pensions. The firm caters to a diverse clientele, including businesses in the food and beverage, recycling and waste management, transport, and finance sectors.
Anders Kvan, CEO of Howden Norway, views this acquisition as a pivotal step in the company’s ambitious growth strategy for Norway, aiming to position itself as the leading independent broker in the country. The integration of Arctic Insurance’s specialized expertise aligns seamlessly with Howden’s international scale, strengthening its standing as one of Norway’s premier brokers equipped to handle intricate risks.
Alexander Ringvold, CEO of Arctic Insurance, expressed enthusiasm about merging with Howden, citing shared values and a vision that places emphasis on people and empowering entrepreneurial talent. This move positions Arctic Insurance for sustained growth as part of a larger global group.
Petter Bakken, Chairman of the Board of Arctic Insurance and Founding Partner of Arctic Group, commended the company’s evolution since its inception in 2014. He believes Howden is the ideal home for Arctic Insurance, providing additional resources and value to clients.
Following this acquisition, Howden Norway now boasts a workforce of 65 employees spread across two offices, reinforcing Howden’s presence in the Nordics. This move comes as part of Howden’s broader European expansion, which includes recent entries into the Danish market through the acquisition of NORTH Risk and the purchase of VLC & Partners Holding B.V. in the Netherlands.
