Howden reports revenue of £3bn in 2024 with 30% organic reinsurance growth

Howden has disclosed that adjusted revenue grew by 23% to £3.01 billion in 2024, with organic growth of 30% in its reinsurance segment, driven by a strong performance of the Treaty business across London and North America, Howden Re Programs and binder business.

According to the firm, new talent contributed much toward the aforementioned revenue growth, with new teams driving development across Treaty Reinsurance, Howden Re Programs, Sport & Entertainment, Aviation, Restructuring and Resolution, and Construction.

As Reinsurance News extensively covered, Howden also welcomed new talent in Australia, Greece, the Middle East, Singapore, and Japan throughout 2024.

Meanwhile, the broking group reportedly completed 65 strategic acquisitions in 2024, including asset deals.

“We continued to build a leading position in key markets, especially in Europe, where we completed 28 deals. Highlights included the acquisition of VLC, a large broker in the Netherlands, North Risk in Denmark, marking our entry into that country, and AGEO in France. Our global footprint grew to 55 countries,” Howden said.

Looking more closely at Howden’s reinsurance segment, as mentioned, the organic growth of 30% was driven by the strong performance of the Treaty business across London and North America, Howden Re Programs, and the binder business.

The firm also boasted of an increased footprint across the International Reinsurance segment with global hires and offices in Japan, Hamburg, and Zurich, including the acquisition of specialist reinsurance broker Haakon, becoming Howden Switzerland.

As for the insurance segment, Howden noted organic growth of 14% in 2024, driven by improvements across Retail, Specialty, and in Europe and Asia Pacific.

At the same time, DUAL, Howden’s underwriting arm, had organic growth of 6% in 2024, driven by strong New Initiative growth across Europe and Asia Pacific (primarily New Zealand) as well as North America (Surety) and the UK retail business.

David Howden, founder and CEO of Howden, commented, “Our 30th year proved to be one to remember. We broke the £3bn revenue barrier, we delivered double-digit organic growth for the fourth consecutive year and a revenue CAGR of 40% over the same period. What’s our secret sauce? The quality of our remarkable people.

“Our track record of growth is founded on our ability to attract and retain the very best. Our talent drives our performance, helping us win new clients and build a long-term, sustainable business with employee ownership as our key differentiator and now with an Enterprise Value approaching £20bn.

“I’m incredibly excited about the future. Looking ahead, we will continue to capitalise on our stellar track record, retaining our focus on strong organic growth, strategic M&A, investment in talent, and operational excellence. In so doing, we will be able to grow even faster, ready to meet our ambitious plans. We’ve turned 30, and we’re only just getting started.”

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