After the initial investment in the Bank of Piraeus’ brokerage subsidiary, the Howden Matrix Group is now completing its third consecutive acquisition of a company or insurance brokering portfolio.
The buyout involves A+ Agents, which, after an agreement was signed on 6 April, now officially passes into the hands of Howden Agents, a subsidiary of the Howden Matrix Group.
This move further strengthens the Group’s position in two key markets: renewable energy sources and financial risk.
A+ Agents already has a portfolio that includes more than 700 MW annually, and combined with the Howden Matrix Group, they exceed 1.4 GW.
Additionally, A+ Agents’ specialisation in financial risks will be further developed as part of the Howden Matrix Group, which for years has been the undisputed leader in this particular risk category in Greece.
With the completion of the third consecutive brokering company buyout by the Howden Matrix Group in the last two years, Group CEO Dimitris Tsesmetzoglou said: “Our decision to bring A+ Agents and its excellent staff into the large professional Howden family is a particularly well-planned move, which does not only aim at the portfolio, but at the daily, close cooperation between us.” This is a business undertaking that once again highlights our commitment to attracting the best in the market. We concluded an agreement that offers all of the guarantees for success – a shared philosophy, common goals and all the prerequisites for even more operational growth.”
The head of A+ Agents, Panagiotis Doumas, cited the great opportunities presented by the cooperation with the Howden Matrix Group: “At a time when the market is shrinking and brokers’ efforts are being depleted by maintaining their operations, A+ Agents has the ability to make use of the talent of its people and its quality portfolio in the best possible way – by joining the top brokering group on the Greek market. The identification of culture and our focus on qualitative insurance coverage at the most competitive prices, combined with the financial health and international scope of the Howden group, create the ideal conditions for all of us to capture an even larger market share with targeted sectors.”
The consolidation of the two companies through absorption will begin immediately.
