Howden acquires stake in local bloodstock specialist
Howden has acquired a majority stake in HQ Insurance, a North Sydney-based insurance broker that specialises in the Australian bloodstock market.
Howden says it aims to be the leading equestrian insurance intermediary in the global insurance market.
Howden is an official partner of Ascot racecourse in the UK, and recently announced a three-year partnership with the Victoria Racing Club (VRC). Howden says its sponsorship of the Melbourne Cup Carnival also reinforces its commitment to the horse racing industry in Australia.
“Joining with HQ strengthens our connection to the Australian racing industry and means we are now positioned to provide world-class expertise in all the major equine markets, with a global team that offers decades of experience in designing products for businesses and horse owners around the world,” Group CEO David Howden said.
The HQ transaction follows Howden’s recent UK acquisition of Tysers’ bloodstock broking business and DUAL’s acquisitions of Tyser’s bloodstock MGA, Galileo, and David Ashby Underwriting.
Howden Pacific CEO Matt Bacon says the Pacific is a “key pillar in our global bloodstock strategy”.
“The team at HQ have a wealth of experience and we are excited to have them on board at Howden,” Mr Bacon said.
"When combined with the access to Howden Equine, Galileo and David Ashby Underwriting, the HQ Team will be able to be best placed to serve bloodstock clients in the Pacific. We will continue to develop our bloodstock offering in the Pacific market.”
HQ was formed in 2013 through the merger of Austbrokers, Howard Australia, Magic Millions Insurance Brokers and E-Quine Insurance Services. It offers a suite of equine industry solutions, predominantly in bloodstock and covering foals, weanlings, yearlings, broodmares, racehorses and stallions. Howden says the HQ stake enhances the depth and expertise of its sport and entertainment specialty offering in the Pacific.