Howden has acquired full ownership of Perth-headquartered Unicorn Risk Solutions after taking a minority stake in the general insurance broker last year.

“We are excited about this next step in Howden and Unicorn’s partnership, having been closely involved with them since our initial stake in August 2022,” CEO Howden Pacific Matt Bacon said today in a statement.

“They are aligned very closely with our values, and we have thoroughly enjoyed working together. The team at Unicorn is extremely impressive, which when combined with the cultural alignment, made this an obvious decision.”

Howden said last year that the initial investment will strengthen its presence in WA and is part of the international broking group’s growth plan for Australia and the region.

Unicorn Risk Solutions started in 2020 as an advice-based insurance practice and the business now comprises of 26 staff. It offers a wide range of risk management and insurance broking services and solutions, including general insurance broking, workers’ compensation claims and injury management, insurance program auditing and claims handling.

Mr Bacon says Unicorn has quickly built a “high class operation with brokers who have been immersed in the Western Australian insurance market for decades…and a real passion for their clients and markets”.

“With this acquisition, Howden cements its foundations in Western Australia, continuing its fast-paced build out across the broader Pacific market.”

Unicorn Director Eddy Pope says with going forward the Perth advisory will have the “benefits of working with a large global broker, combined with the responsiveness, speed of innovation and specific know-how of a local broker”.