David Howden’s statement as Howden breaks £3bn revenue barrier

Howden managed to break the £3bn revenue barrier in its latest financial year as it secured double-digit organic growth.

In a trading update published today (5 February 2025), the broker said its adjusted revenue sat at £3.01bn in the year to 30 September 2024, up from £2.44bn the previous year.

The group’s adjusted consolidated earnings before interest, tax, depreciation and amortisation (ebitda) also showed growth, increasing to £922.2m from £780m year-on-year.

Part of the reason for the increase was due to organic revenue growth across its divisions.

The insurance broking division saw this increase by 14%, while the reinsurance division experienced a 30% rise.

The broker’s MGA Dual also saw organic growth of 6%.

Overall, organic revenue growth sat at 15%, higher than the 13% reported the previous year.

David Howden, the founder and chief executive at Howden, said: “Our 30th year proved to be one to remember. We broke the £3bn revenue barrier, we delivered double-digit organic growth for the fourth consecutive year and a revenue CAGR of 40% over the same period.

“What’s our secret sauce? The quality of our remarkable people.”

Headcount

According to the broker, its headcount currently stands at 20,000.

New teams drove growth across a range of product lines, including treaty reinsurance, Howden Re programmes, sport and entertainment, aviation, restructuring and resolution and construction.

The firm also welcomed 650 new employee shareholders in 2024, taking the total number to 5,300.

David Howden said: “Our track record of growth is founded on our ability to attract and retain the very best.

“Our talent drives our performance, helping us win new clients and build a long-term, sustainable business with employee ownership as our key differentiator and now with an enterprise value approaching £20bn.

“I’m incredibly excited about the future.

“Looking ahead, we will continue to capitalise on our stellar track record, retaining our focus on strong organic growth, strategic M&A, investment in talent and operational excellence. In so doing, we will be able to grow even faster, ready to meet our ambitious plans. We’ve turned 30 and we’re only just getting started.”