Dutch Broker HW International Completes Management Buyout
HW International BV (HWI BV), the privately held, Dutch insurance broker, has completed a management buyout with the backing of OBL Investments BV, a privately held company.
Financial details of the MBO were not disclosed.
This transaction involves the acquisition of HWI BV, the group’s holding company in the Netherlands, following a year-long restructuring process that saw the sale of HWI BV’s operations in North America, the United Kingdom, France, and Greece.
HWI is currently reviewing its brand positioning across all territories, with a refreshed identity to be unveiled later this year.
With a significant private investment, the MBO will invest in developing its offices in Australia, Germany, Portugal, and Spain, with a greater focus on mergers and acquisitions to complement its international footprint.
The company is also exploring the development of NuVu, the company’s MGA platform, in Europe and other regions.
The business will be led by current Managing Director Juan Alberto Garcia, who becomes the global chief executive officer of HWI BV. All local managers, executive directors, and associates agree to the merger and will remain with the company.
“This is a historic moment for HWI BV and our management team. It provides us with access to new funding that we will use to grow our offices, services, capabilities, and technology in Europe and beyond,” commented Garcia.
“With continued demand from independent brokers and a strong MGA sector, we see significant potential as a flexible, private brokerage alongside our MGA platform, which understands what entrepreneurial brokers and underwriters need to succeed,” he said.
“While the management acquisition gives us the financial strength to expand and develop our market offering, the 2024 consolidation period means we can now deliver a clear message to customers and partners around the world about who we are,” Garcia continued.
“This is an opportunity to refine our approach, remain agile, and strengthen what matters most to our customers: expert advice, global reach, and trusted relationships—something our existing customers and partners appreciate and expect from us.”
“As the new owner of HWI, my role is to safeguard its independence and values. I have deep respect for the company’s legacy and full confidence in Juan and the management team to take it forward, continuing the journey and business vision established by my late godfather, Hugh Wood, who was a truly inspirational man,” commented Maurits Kleingeld, founder and investor.
HW International BV operates nine offices worldwide and has clients in more than 90 countries. The group’s specialties include fine art and collectibles, film and entertainment, property and casualty, financial lines, marine, real estate, international programs, social security, surety, as well as its own MGA brand, NuVu, and its own international network.
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Jewelers Mutual Buys Australia’s Q Report
Jewelers Mutual Group, insurance and business solutions provider dedicated to the jewelry industry since 1913, recently announced its acquisition of Jewellers Loop, the Australian general agency that founded Q Report.
Jewellers Loop has access to two leading specialized jewelry insurance products, Q Report and JewelCover. Jewelers Mutual said the acquisition marks a significant milestone in its history, representing the company’s initial venture into international markets for personal jewelry insurance.
Financial details of the transaction were not disclosed.
Both organizations will leverage their combined expertise to expand personal lines insurance solutions to more customers in more markets. The acquisition sets the foundation to further revolutionize how products and services are delivered through the synergistic alignment of technology, data and analytics for enhanced customer experiences.
Jewellers Loop was founded in 2004 under the Q Report brand as Australia’s first specialist jewelry insurance provider. Since inception, the company has built a strong reputation and is known for its high-quality service and customer satisfaction, providing access to comprehensive coverage for jewelry customers.
Both insurance products offered through Jewellers Loop – Q Report and JewelCover – are underwritten by Chubb Insurance Australia Unlimited, a carrier relationship valued by Jewelers Mutual.
“This strategic acquisition strengthens our collective ability to deliver unparalleled service and innovation to the jewelry industry on a global scale, ensuring both our companies thrive, grow and continue learning from each other’s successes,” said Scott Murphy, president and chief executive Officer of Jewelers Mutual, based in Neenah, Wisconsin.
“Bringing our capabilities together supports our united mission to elevate the love of jewelry and protect the pieces that mean the world to our customers,” Murphy said.
“The world is changing fast, and the way people interact with businesses is evolving. Together, we’re embracing that change, using technology to enhance every customer touchpoint, and ensuring we remain industry leaders,” said Rami Baron, chief executive officer and founder of Jewellers Loop.
Oppenheimer & Co. Inc. served as exclusive financial adviser, and Dentons provided legal counsel, for Jewelers Mutual.
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Ardonagh Advisory Buys ALP Holdings and Subsidiary
Ardonagh Advisory, the Ardonagh Group’s London-based SME broking platform, announced the acquisition of ALP Holdings (Liverpool) Ltd. and ALP’s wholly owned subsidiary Letton Percival Ltd.
Located in central Liverpool, ALP Holdings and its subsidiary Letton Percival have built a strong reputation for delivering tailored insurance solutions and exceptional client service. The team of 17 will continue to operate under the leadership of Directors John Leaver and Andrew Leaver, ensuring continuity for their valued clients.
Financial details of the transaction were not disclosed.
Richard Tuplin, CEO of Ardonagh Advisory GI Broking, commented: “I am delighted that ALP is joining our business, and in doing so helping us to develop a presence in Liverpool. They are a fantastic team with a great reputation and legacy, always putting their clients first. We look forward to welcoming them to Ardonagh and supporting their continued success.”
Ardonagh Advisory Broking Holdings Ltd. is The Ardonagh Group’s SME broking platform, comprising Bravo Networks, Footman James, Hera Indemnity, Geo Underwriting, Lorega, Towergate, Towergate Health & Protection, Thompson & Bryan and Usay Compare brands.
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