Howden set to enhance employee benefits offering with acquisition

Howden is set to acquire UK Employee Benefits health and protection consultancy, Punter Southall Health and Protection Holdings Ltd (PSHPH).

The deal includes its trading subsidiaries - Punter Southall Health and Protection, Red Arc Assured Ltd and Risk Policy Administration Ltd.

The transaction is subject to regulatory approval.

Hyperion X

Howden is part of the Hyperion Group, which recently launched its fourth business Hyperion X. This will develop the group’s efforts on data, digital delivery, and insurtech investments and incubation.

PSHPH provides digital and data analytics services to clients and insurers under the Psyon brand.

As part of the transaction, current PSHPH chief executive Paul Johnston will join the Howden UK executive committee as chief information officer of Howden UK, reporting to Chris Evans, chief executive of Howden UK. 

Johnston said: “Joining the Howden family marks an exciting chapter for us and provides greater opportunities for our staff.

“It also represents a significant step in our desire to develop market-leading digital solutions for our clients.

“Working with Hyperion X, we will be able to build technology to transform the world of employee benefits for the better.’’

David Howden, chief executive of Hyperion added: “Howden and Punter Southall Health and Protection’s specialities are highly complementary with entrepreneurial cultures.

“We both believe in the importance of putting our employees first, which enables us to best serve our clients, and in the importance of technology and data, which underpins our strategies.”

Acquisitions

In 2017, Howden acquired Sterling Knight, a leading employee benefit specialist broker headquartered in Singapore, followed by the acquisition of the employee benefits broker ACP in Turkey. 

Evans said: “Howden’s Employee Benefits offering is firmly embedded at the heart of our client proposition.

“The Punter Southall team are highly respected within the employee benefits sector and when combined with our existing team, will further enable us to better serve our clients with a consultative approach to delivering client-focused specialist insurance solutions.”

David Howden, chief executive of Hyperion added: “Howden and Punter Southall Health and Protection’s specialities are highly complementary with entrepreneurial cultures.

“We both believe in the importance of putting our employees first, which enables us to best serve our clients, and in the importance of technology and data, which underpins our strategies.”

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