Howden Buys Foresight in Japan, Appoints Gallagher’s Aibe as CEO of Japan Retail Unit

Howden, the London-based insurance brokerage group, has announced its entry into the Japanese retail insurance broking and captive advisory and management markets through the acquisition of Foresight Holdings Co. Ltd.

Also announced was the appointment of Takuya Aibe as CEO of Howden Japan’s retail business. Aibe has held a number of senior positions at Marsh Japan for over 20 years and was most recently CEO, Gallagher Japan. Howden said the appointment underlines its strategy to develop its retail offering with specialist and captive expertise in Japan by investing in local, high-quality businesses and talented teams.

Foresight, founded in 2005, is a group of companies authorized to provide retail brokerage services, enabling Howden to offer innovative retail risk solutions to Japanese clients. The group is also structured to provide captive advisory services in Japan and captive management services in Micronesia, Singapore and Hawaii.

Foresight is headquartered in Tokyo with 17 employees in six offices and a management team that has previously held senior positions at leading Japanese insurance companies. Manages captives for 13 major Japanese corporations.

This acquisition follows that of ARM Holdings in February 2024, one of Europe’s largest independent insurance managers and a specialist in the formation and management of insurance captives. Howden now manages approximately 100 captives globally.

Howden announced its entry into the Japanese market in July 2024 with the appointment of Kentaro Tada as CEO, Howden Japan, the launch of Howden Re Japan and the strategic equity partnership with Keystone ILS. Howden Re Japan will provide reinsurance brokerage services to life and non-life companies, strategic advice using data, analytics and capital markets expertise, and comprehensive ILS services tailored to the various requirements of the Japanese market.

“Partnering with Foresight is a big step forward in developing a broader offering for our Japanese clients and means that Howden Japan can now offer retail brokerage and captive management services alongside its reinsurance and ILS capabilities,” commented Kentaro Tada, CEO, Howden Japan. .

“We are delighted to welcome Aibe-san and believe that his many years of experience working with international brokers, combined with Howden’s global platform, will enable Howden Japan to best serve its retail clients,” Tada added.

“After nearly 20 years of developing our business, joining Howden is the next significant step in our growth journey,” according to Kenichiro Hamada, CEO, Foresight. “It means that together, we can leverage the full strength of our expertise and Howden’s global capabilities, enabling us to better serve clients and develop a market leadership position in a highly fragmented captive market.”

Founded in 1994, Howden provides insurance, reinsurance and underwriting services and solutions to clients ranging from individuals to the largest multinational companies. The group operates in 55 countries across Europe, Africa, Asia, the Middle East, Latin America, the US, Australia and New Zealand, employs 18,000 people and manages a total of $38 billion in premiums on behalf of its clients.

Source: Howden

TOPICS
M&A AJ Gallagher Japan