Howden buys AEGIS Singapore agency

Howden Insurance Brokers has continued its strategy of Asian expansion with the acquisition of the business and assets of AEGIS Insurance Agencies Pte, a Singapore based specialist insurance agency.

Terms of the deal were not disclosed.

Established in 2003, retail specialist AEGIS Insurance Agencies specialises in professional indemnity, professional liability, pilot loss of license protection, and bonds and financial guarantee schemes.

It was the first intermediary to offer loss of license insurance for pilots working for major airline groups in Asia Pacific, and is now the only intermediary offering this product in Singapore.

Howden said this reinforces its commitment to the Asian market and its ongoing strategy to invest expertise to deliver tailored (re)insurance solutions that are adapted to clients’ needs.

Richard Tay, co-founder of AEGIS, said: “Our clients will benefit from Howden’s scale, international depth and breadth, and access to top quality technology and digital solutions. Howden is a perfect fit for our team, and we look forward to continuing our growth and remaining committed to delivering for our clients as part of Howden.”

Evan Chng, co-founder of AEGIS, added:  “Joining Howden enables our clients to benefit from the scale of Howden’s international specialty offering. We’re looking forward to growing our business with Howden in the future.”

Goh Chye Huat, CEO, Howden Asia, said: “Evan Chng and Richard Tay have built a highly respected business that is a market leader in its chosen segments, and its commercial portfolio will help us diversify our business, expands our breadth and depth of specialism in Asia, and makes us the leading broker in the private education insurance segment in Singapore.”

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