Howden’s insurance segment bags 14% organic growth in FY 2024

New talent also contributed 30% of the organic revenue growth.

Howden Group reported a 23% year-on-year (YoY) surge in adjusted revenue to $3.76b (£3.01b) for the year ending 30 September 2024 (FY 2024), up from $3.05b (£2.44b) in the previous year.

Organic revenue growth reached 15%, compared to 13% in 2023.

The company recorded growth across its divisions, with insurance broking organic revenue increasing by 14%, reinsurance by 30%, and its Managing General Agent (DUAL) by 6%.

New talent contributed 30% of organic revenue growth, particularly in Treaty Reinsurance, Howden Re Programs, Sport & Entertainment, Aviation, and Construction.

Founder and CEO David Howden highlighted the company’s revenue surpassing $3.75b (£3b) and achieving double-digit organic growth for the fourth consecutive year.

He attributed the success to talent retention and strategic investments, with the group’s enterprise value nearing $25b (£20b).

By division, the insurance segment saw 14% organic growth and expanded into Denmark, Luxembourg, Peru, and Japan.

The reinsurance division recorded 30% organic growth, driven by Treaty business and Howden Re Programs.

It expanded into Japan, Hamburg, and Zurich, acquiring Swiss reinsurance broker Haakon.

DUAL reported 6% organic growth, supported by expansion in Europe, Asia-Pacific, and North America.

It took over a $31.36m (A$50m) professional indemnity portfolio from Allianz and acquired Swiss Re’s Genoa-based Marine team, along with its $155.93m (€150m) portfolio.

Howden stated it will continue to focus on organic growth, acquisitions, and operational improvements to drive future expansion.

($1.00 = £0.80 = A$1.59 = €0.96)

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