Howden expands in Japan with acquisition of Foresight

18 September 2024 Consultancy.asia

Howden, a professional services firm dedicated to the insurance sector, has launched into the Japanese retail insurance broking and captive consulting markets with the acquisition of Foresight.

Founded in 2005, Foresight is a licensed group offering retail brokerage and captive consulting services in Japan, as well as captive management in Micronesia, Singapore, and Hawaii.

Kentaro Tada, CEO of Howden in Japan, said that the addition of Foresight will enable the company to expand its offerings in the local market.

Howden entered the Japanese market just earlier this year with a focus on the reinsurance and insurance linked securities segments, delivered in partnership with Keystone ILS Capital. “We can now offer retail broking and captive management services alongside our reinsurance and insurance linked securities capabilities,” said Tada.

Commenting on the joining of forces with the global player, Kenichiro Hamada, CEO of Foresight, noted: “Together, we can leverage the full force of our expertise and Howden’s global capabilities, enabling us to better serve clients and develop a leading market position in a highly fragmented captive market.”

Globally, Howden has more than 19,000 staff working from over 40 offices worldwide. In Asia, Howden has offices in 10 countries, including China, India, Indonesia, Malaysia, Singapore, and South Korea.

The deal in the captive space follows Howden’s February 2024 acquisition of ARM Holdings, a European insurance manager specialising in captive management.