Howden Japan Takes Majority Ownership in Kyoto-Based Holos

Global insurance intermediary Howden Group has expanded its footprint in Japan by acquiring a 68.3% stake in Holos Holdings Co. Ltd., a top-tier retail insurance broker headquartered in Kyoto.

Established in 2001 by Kei Horii, formerly of Sony Life Insurance, Holos employs over 400 staff across 20 offices nationwide. With this acquisition, Howden Japan’s total workforce now exceeds 450 since the group’s entry into the Japanese market in 2024.

This deal significantly strengthens Howden’s ability to deliver services in both the life and general insurance sectors, targeting individuals, small-to-medium enterprises, and large corporate clients alike.

The move follows a string of strategic actions by Howden in Japan last year, including the launch of Howden Re Japan, a strategic partnership with Keystone ILS Capital, and the acquisition of the Foresight Group, which marked its entrance into Japanese retail insurance.

CEO David Howden praised the synergy between the two firms: “From the beginning, we recognized that delivering top-tier service requires deep local expertise. Holos brings just that. This union enhances our capabilities nationwide and reinforces our long-term dedication to the Japanese market.”

Holos CEO Kei Horii commented on the transition: “After 25 years of steady growth with our dedicated team and clients, we’re excited to join Howden. Merging our strengths in life insurance with Howden’s international reach and expertise in general insurance allows us to become a more trusted, client-focused insurance group.”

Howden Group, founded in 1994, operates in 56 countries with over 22,000 employees, handling approximately US$45 billion in premiums across global insurance and reinsurance markets.

Ageas UK Finalizes Saga Underwriting Business Takeover

Ageas UK, part of Belgian insurer Ageas Group, has officially completed the acquisition of Acromas Insurance Company Ltd. (AICL), the underwriting arm of Saga plc, following full regulatory clearance.

The transaction marks the beginning of a 20-year distribution agreement between Ageas and Saga Services Ltd. (SSL), focusing on motor and home insurance offerings for Saga’s mature customer base. This partnership was first revealed on December 16, 2024.

The acquisition, valued at approximately £67 million, will be paid in stages up to the launch of the operational agreement.

This deal aligns with Ageas’s “Elevate27” strategy, aimed at bolstering its non-life insurance footprint across Europe and tapping into the growing senior demographic—where Ageas already holds significant experience and market share.

Registered in Gibraltar, AICL not only underwrites for Saga Services but also supports other brands such as AA Insurance Services and RAC.

BMS Group Grows Australian Presence with Property Broker Acquisition

Specialist insurance and reinsurance broker BMS Group, headquartered in London, has acquired Corporate and Commercial Insurance Brokers, an Australian property insurance firm based in Queensland.

While financial details were not disclosed, the acquired firm has been operating since 2006, providing tailored insurance and risk management solutions to large, privately owned companies.

Founder Jeremy Murfin will transition to client director at BMS Australia, reporting to Stephen Moore, managing director of BMS Risk Solutions QLD in Brisbane. Murfin will also serve on the executive leadership team of BMS Australia.

This acquisition builds on BMS’s global expansion momentum, following recent deals that included Spanish broker Rasher and its subsidiaries in Latin America, as well as UAE-based Berms Brett Masaood, now rebranded as BMS Masaood.

Andrew Godden, CEO of BMS Australia, stated: “Jeremy has been a valued partner to BMS for over two decades. His knowledge in the property insurance sector and client advisory skills are top-notch. We’re thrilled to officially welcome him and his team into the BMS family.”

Aviva Seals £3.7B Acquisition of Direct Line, Becoming UK’s Top Motor Insurer

Aviva Plc has wrapped up its £3.7 billion ($5.1 billion) purchase of Direct Line Insurance Group Plc, officially creating the largest motor insurance provider in the UK.

The acquisition was approved by the UK’s Competition and Markets Authority (CMA) on July 1, and brings together two of the most recognized insurance brands in the country.

“This acquisition brings together fantastic brands and talented teams to better serve over 20 million customers across the UK,” said Amanda Blanc, Aviva’s Group CEO. “It advances our capital-light growth strategy and is a strong move for our shareholders. We’re confident this positions us for continued success.”

The merger, originally announced in December 2024, may lead to staff reductions of 5–7% over three years, equating to up to 2,300 job cuts, as overlapping roles are streamlined.