Howden has acquired Ureta and Fernandez Corredores de Seguros Limitada, an independent retail insurance broker headquartered in Santiago, Chile. Felipe Ureta has been appointed as CEO of Howden Chile.
Founded by Felipe Ureta in 2010, U&F specialises in P/C, motor, civil liability, construction and marine hull insurance, with additional expertise in specialty lines including aviation, financial lines and reinsurance. U&F also has a presence in the south of Chile, servicing the fishing industry.
Sonia Caamaño, CEO, international growth markets, Howden, said: “U&F have worked alongside Howden’s marine specialty team for a number of years and the leaders of our existing business in Chile saw in them a natural fit and succession. Both Howden Chile and U&F have strong ambitions and it was only through combining forces that our vision of providing an integrated and powerful proposition, with strong distribution and expertise could be realised.”
Felipe Ureta, founder and CEO of U&F, and new CEO of Howden Chile, added: “We have enjoyed a successful partnership with Howden over the years and joining the Howden family permanently is a significant next step in our journey, enabling us to leverage the full force of Howden’s global capabilities and expertise to better serve our clients.”
The acquisition forms part of Howden’s Latin America strategy, which also covers Mexico, Colombia, Brazil and Peru.
Pictured: Chief executive of Howden, David Howden
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