Howden has acquired Auckland-based Apex Insurance New Zealand, a brokerage focused on commercial mid-market, SME and domestic customers across a wide range of industries.

Established in 1999, privately-owned Apex has 43 staff across five locations – Auckland, Christchurch, Thames, North Shore and Tauranga. 

It services more than 14,000 customers and manages over 2500 client claims a year, covering property, body corporates, marine, sport, transport, and many schemes and affinities.

“Apex has long been a fixture of the New Zealand insurance landscape and we’re proud to be at the beginning of the next chapter in Apex’s future,” Howden Pacific CEO Matt Bacon said.

Howden’s New Zealand broking business now comprises Apex, Wallace McLean and Howden Broking NZ – a trio Howden says will meet the needs of the “full spectrum of corporate to micro-SME clients”.

Howden announced plans to expand into the New Zealand market in late 2021, and acquired broker and risk manager Wallace McLean in July last year. Wallace McLean focuses primarily on corporate business in New Zealand, covering numerous industries, including property, agriculture, retail and distribution, as well as several other fields.

A year ago, Howden Care New Zealand – Howden’s local workplace claims management, rehabilitation and wellbeing business – acquired the personal injury business of Gallagher Bassett New Zealand.

The latest acquisition includes Apex General Limited and its subsidiaries, Apex Funding, Apex General Christchurch, Apex General Thames, Apex Marine & General, Prosper Insurance and Insurance Underwriters (NZ).

Apex MD James McGhie says Howden is committed to delivering exceptional client service and delivering practical and cost-effective solutions. 

“As a privately-owned business, Howden’s independence was a key consideration and we are confident that together we will deliver the very best results for clients,” he said.

Howden operates in 50 countries, employs 15,000 and handles $30 billion of premium on behalf of clients. It made about $US2.35 billion ($3.44 billion) in revenues last year, ranking 12th in the world, according to credit agency AM Best.