Howden has agreed to acquire PIBL, a retail insurance broker based in the Channel Islands, as it continues to expand its specialist presence in offshore financial centres.
The deal, announced on Jan. 28 and subject to regulatory approvals, will strengthen Howden’s ability to service financial services, private wealth and corporate clients in Jersey and Guernsey.
PIBL, previously known as Vantage Insurance Brokers, provides insurance solutions tailored to offshore financial services firms, high-net-worth individuals, family offices and trust companies. The firm has an established local footprint in a market where insurance demand is increasingly shaped by complex cross-border risks, regulatory scrutiny and exposure to global liability lines.
The Channel Islands are long-established international finance centres, with Jersey and Guernsey together administering hundreds of billions of pounds in assets across funds, trusts and corporate structures. That concentration of financial activity has historically supported strong demand for specialist lines including professional indemnity, D&O, cyber and financial institutions cover.
Martin Ellis, managing director and global practice leader for professional services at Howden, said the acquisition will enhance the group’s regional capabilities.
“By combining PIBL’s strong local relationships and client service with Howden’s specialist expertise and global capabilities, we’re creating even stronger outcomes for clients by expanding the breadth of solutions and market access available to them to meet their evolving needs,” Ellis said.
The transaction also reflects consolidation trends within the Channel Islands insurance market, where rising regulatory expectations and increasingly complex risk profiles have driven demand for scale, technical expertise and access to international capacity.
The acquisition adds further local retail and financial lines capability to Howden’s existing Channel Islands operations and complements the group’s growing alternative risk and captives platform.
In February 2024, Howden agreed to acquire ARM Group Holdings, the parent of Alternative Risk Management, which manages more than 80 captive structures globally. Captives remain an important risk management tool for financial services and multinational clients, particularly in volatile lines such as D&O, cyber and financial institutions insurance.
“Combining PIBL with our existing business in the Channel Islands creates a meaningful platform for growth in this very important market,” said Carl Shuker, deputy chairman of Howden UK&I.
