Global intermediary group Howden has bought Bridges Insurance Services, a New Zealand general insurance broker focused on mid-market businesses and SMEs.

Howden says the acquisition will increase its presence in the country following its purchases of Wallace McLean in 2022 and Apex Insurance last year.

It expects Hamilton-based Bridges to “materially” broaden its product offerings.

“We are honoured that Bridges has chosen to partner with Howden and are very proud to be part of the next chapter in its journey,” Howden Pacific CEO Matt Bacon said.

“Bridges has a strong track record in the New Zealand insurance market and has demonstrated an ongoing commitment to client service. Bridges will expand our presence into a new region ... and complements our existing business in the country.”

Ron Bridges, who started the brokerage in 1990, said: “After 34 years of independence, the decision to join Howden is one that we didn’t take lightly. In the end, we felt that culturally Howden was aligned with our existing values, focusing on our people and clients.”

Director Chris Rolfe will become MD under the new ownership and the management team, including Mr Bridges, will remain involved with the business.