Howden Acquires Forbes Insurance and Hill Aviation
Deal News | Feb 19, 2025 | Re-Insurance News
Global insurance and reinsurance broker Howden has made a strategic move to enhance its aviation capabilities by acquiring Forbes Insurance Limited and the book of business from Hill Aviation Insurance Services Limited. Both acquisitions will be integrated into a new specialist Aviation division within Howden UK&I, with a newly opened Leicester office serving as part of an expanding network in the UK and Ireland. Forbes Insurance, an independent broker founded by CEO Terry Moyes, is well-regarded for its offerings in commercial and private client insurance, particularly in aviation-related fields. Moyes and his team will spearhead the development of Howden's aviation focus, leveraging the culture and resources of Howden, a company noted for its employee ownership and client-centric approach. Meanwhile, Steve Hill of Hill Aviation plans to retire following a consulting period post-acquisition. Jim Stevenson of Howden expressed enthusiasm about the strengthening of Howden's retail and aviation services through this acquisition.
Sectors
- Insurance
- Aviation
Geography
- United Kingdom – The acquired firms, Forbes Insurance and Hill Aviation, are based in the UK, and the integration will occur within Howden UK&I.
- Ireland – Although not the primary base of the acquired companies, the expansion of Howden's network across the UK includes potential engagements across Ireland.
Industry
- Insurance – The acquisition involves companies providing insurance services, specifically in aviation insurance, falling within the broader insurance industry.
- Aviation – The focus on aviation insurance products indicates significant involvement in the aviation sector, providing insurance solutions for aviation clubs, operators, and manufacturers.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Howden Group | Acquirer | Company | A global insurance and reinsurance broker expanding its aviation insurance services. |
| Forbes Insurance Limited | Target | Company | An independent general insurance broker specializing in commercial and private client insurances, particularly in aviation. |
| Hill Aviation Insurance Services Limited | Target | Company | A North Yorkshire based general aviation insurance broker founded by Steve Hill. |
| Terry Moyes | Leader of new Aviation team | Person | Founder of Forbes Insurance, leading Howden's new Aviation division post-acquisition. |
| Steve Hill | Former Owner | Person | Founder of Hill Aviation, planning to retire after aiding in the transition. |
| Jim Stevenson | Regional Managing Director, Midlands | Person | Overseeing Howden's integration and expansion in the Midlands region. |