Howden buys Colombian reinsurance broker

Howden Broking Group is to acquire Colombian reinsurance broker NMB Colombia Corredores de Reaseguros SA, subject to regulatory approval.

NMB Colombia has a strong focus on the energy sector, including oil and gas, and also works in the marine, property, casualty and political risks sectors.

The company will operate as Howden RE Colombia and will be led by Ricardo Diaz who has joined from Guy Carpenter to become managing director, reinsurance, Colombia. Ian Webb, who was head of NMB Colombia, becomes head of Howden Energy Colombia, a division of Howden Re Colombia.

Hyperion Insurance Group chief executive David Howden said: “The addition of a well-respected Colombian reinsurance broker, following the acquisitions of leading insurance brokers Walcolda and Proseguros in Colombia last month, is an important milestone in the development of our Iberoamerican platform.

“NMB Colombia has a long history of providing solutions to clients in the Colombian market, and its reinsurance expertise complements our Spanish and Latin American operations. Colombia remains a strategically important location for us, and enhancing our capabilities in the region is an important part of fulfilling our ambitions of developing a leading Ibero-american broking operation.”