Howden snaps up Malaysia’s Malene in Asia pushFebruary 12 2019 by Andrew Tjaardstra
Hyperion-owned Howden Insurance Brokers has bought Kuala Lumpur-headquartered Malene Insurance Brokers through its subsidiary HBG Malaysia (Howden).
Malene, a 35-year-old broker specialising in the energy and power sectors, has more than 30 staff and will change its name to Howden Takaful Brokers.
Howden has been growing quickly in Asia over the past 12 months through Howden’s acquisitive strategy. The firm recently bought out CIMB in Malaysia to own 100% of CIMB Howden Insurance Brokers and late last year the broker splashed out on Thai motor broker Maxi. It has since merged Howden’s Thailand operations with Maxi to create Howden Maxi.
Last summer, Howden bought the majority of Hong Kong-based life broker International Planning Group to form IPG Howden.
Goh Chye Huat (pictured), chief executive of Howden Asia, commented: “The past nine months have been transformational for Howden Asia. Howden’s growth strategy has always been focused on becoming leaders in the specialist lines and markets that we choose to operate in.
“By bringing International Planning Group, Malene and Maxi into the group, we are now able to offer clients, across Asia and beyond, leading high net worth life solutions, we have increased our global Islamic finance capabilities, and we are the leading motor broker in Thailand.”
David Howden, Hyperion’s chief executive, has said he wants the group to become the largest non-US broker in the world, with Asia Pacific firmly in his growth plans.
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