Howden buys captive manager

London-based brokerage Howden Group Holdings Ltd. said Thursday it has agreed to acquire ARM Group Holdings Ltd., which owns captive manager Alternative Risk Management.

Terms of the transaction were not disclosed.

Based in Guernsey and licensed in Bermuda, ARM provides captive management services worldwide.

Howden said in a statement that the deal will enable it to provide in-house captive management services to clients and will accelerate the growth of its multinational practice.