Howden signs agreement to acquire Cooper Gay Suramerica
15 July 2015
Howden Iberoamerica, the Spanish and Latin American division of Howden International, part of Hyperion Insurance Group, signed yesterday an agreement, subject to revision, to acquire Cooper Gay Suramerica Ltd and related companies.
Until the deal is completed, Howden International has in place an exclusive commercial partnership agreement for Cooper Gay Suramerica’s reinsurance operations in Colombia, Peru and Venezuela.
Cooper Gay Suramerica, which used to be Cooper Gay’s primary South American operation, was recently acquired by Julian Suza and Ricardo Garzon, who will be leading the business as partners of Howden International in this new project.
Howden Iberoamerica with more than 550 professionals and 27 offices across Iberia and Latin America, and operating through hubs in Miami, Colombia, Ecuador, Chile, Brazil and Spain, has established itself as one of the leading brokers in the region.
Following the 2014 acquisition of Wacolda, Proseguros and NMB, this new operation will make Howden one of the largest insurance brokers in Colombia, with nearly 200 professionals in the market.
Carlos Quiñones, CEO of Howden Colombia, commented: “This operation will strengthen our offering and reinforce our strategic commitment to the market. By integrating Howden’s global vision and ethos with Cooper Gay Suramerica’s high performance culture, we have great confidence of building a successful business.”
Julian Suza and Ricardo Garzon, managers and owners of Cooper Gay Suramerica, further commented: “We believe this creates a winning alliance, with highly qualified partners and a clear regional approach. Howden has an impressive reputation, positive vision and a clear long term strategy. Becoming part of the largest employee-owned insurance company in the world will enable the continued growth and development of our business. We are hugely excited by the new opportunities this acquisition provides and believe it will be highly positive for both our clients and employees.”
We believe this creates a winning alliance, with highly qualified partners and a clear regional approach.
- Julian Suza and Ricardo Garzon