The London-based insurance intermediary group Howden announced the acquisition of Innova Re, Peru’s leading independent reinsurance brokerage firm. The transaction amount was not disclosed. This acquisition will enhance Howden’s reinsurance business in Peru and expand the influence of its retail business.
Innova Re was established in 2017 and is one of the largest and fastest-growing independent reinsurance brokerage firms in Peru, focusing on the field of commercial insurance. Howden stated that this acquisition will integrate Innova Re’s reinsurance capabilities with Howden’s advantages in the retail insurance market in Peru to provide customers with more comprehensive services.
Juan Diego Cadarso, the founder and CEO of Innova Re, will join Howden and serve as the CEO of Howden Re Peru. Howden executives emphasized that this collaboration will enhance the company’s professional capabilities and market coverage in Latin America.
Previously, Howden also announced the appointment of April McLaughlin as the Managing Director of Howden Miami to strengthen the reinsurance business layout.
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