Howden grows its presence in Singapore with the acquisition of the business and assets of AEGIS Insurance Agencies Pte Ltd.
Howden Insurance Brokers (S.) Pte Ltd (“Howden”) the international insurance broker, today announces an additional step in its strategy to expand Howden Asia’s spectrum of specialties with the acquisition of the business and assets of AEGIS Insurance Agencies Pte (“AEGIS”), a Singapore based specialist insurance agency. This reinforces Howden’s commitment to the Asian market and its ongoing strategy to invest expertise to deliver tailored (re)insurance solutions that are expertly adapted to clients’ needs.
Established in 2003, AEGIS offers tailor-made retail insurance solutions, specialising in professional indemnity, professional liability, pilot loss of license protection, and bonds and financial guarantee schemes. It enjoys strong relationships with many private education institutions in Singapore, providing them with fee protection and medical insurance cover. 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.
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, said: “Joining Howden enables our clients to benefit from the scale of Howden’s international specialty offering. As an employee owned company with a People First culture that shares our commitment to client centricity and innovation, our people will be empowered to deliver ever more advanced risk solutions to clients as part of Howden. We’re looking forward to growing our business with Howden in the future.”
Goh Chye Huat, CEO, Howden Asia, said: “The acquisition of AEGIS reflects our broader strategy of empowering local teams to partner with culturally aligned companies with a shared entrepreneurial culture, and is a further step in our strategy to enhance our operational capabilities and client offering in Singapore. 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.”