on 15 Dec 2021
Expat Marine, which insures 250 yachts in Asia, becomes part of the global insurance giant
Howden Group has purchased the business portfolio of Hong Kong-based Expat Marine Ltd., well known in yachting circles thanks to its principals, Peter McTavish and Colin Dawson. Howden Group is a UK-based broking house with operations in 45 territories and over 9000 employees. The transfer took effect as of December 1, 2021. The deal for Expat was agreed and signed with Howden Insurance Brokers (HK) Limited, part of Howden Group Holdings and which has been in Hong Kong since 1994.
Dawson, who has partnered with Expat Marine for the past 12 years handling Expat’s yacht insurance business of over 250 yacht clients, says that he will continue the partnership with the Howden Group.
Howden Group Holdings is the largest independently owned insurance group in the world, with a large marine business, mostly focused on commercial shipping. Howden worldwide places US$11 billion in premiums to the insurance market each year. Dawson says that this will “make it easier when discussing risks with insurers.”
“This partnership will allow us to benefit from Howden’s reach in the market, have access to insurers we previously didn’t have and join with a network of Howden offices, enabling us to improve our offering to clients. It also allows teams at Howden to access my 25 year’s specialist experience with yacht insurance, assisting them give greater value to their clients,” Dawson said of the new tie up.
Dawson and his team’s contact details will remain the same while Expat merges into the Howden group. Dawson stressed that day-to-day operations will not change. He added that he expects to be able to offer even better service to his clientele.
“With a broader reach, I am confident this change will allow us to present a more complete package to yacht owners and the surrounding yacht industry, allowing us to offer better value to them,” Dawson said, adding that he hoped to offer “better and more stable programmes” for his clients in what is now a very difficult yacht insurance market.
Dawson said that the Howden Group has a large office in London and has three other recent acquisitions in the UK and the South of France that specialise in insurance for yachts of all sizes. The company was founded in 1994 and has become one of Europe’s largest insurance broking businesses.