Howden Insurance Brokers to acquire PI broker PYV
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Howden Insurance Brokers has agreed to acquire the core broking activity of IFA professional indemnity insurance broker PYV.
The acquisition will mean many of the PYV team and a significant book of business will be transferred to Howden.
Howden UK retail business managing director Mike Lobb says: “PYV’s work and position as a leading PI provider to the IFA industry demonstrates the natural and complementary fit with our existing business. They have a strong team and some first class relationships that we look forward to building upon.”
PYV chief executive Neil Pointon will join Howden as part of its retail leadership team.
Pointon says: “For our current clients, and indeed for the wider IFA sector, this is an exciting move. It means our clients will have the same account contacts and a continuation of service, but with the added benefits associated with an international insurance and reinsurance group.
“I look forward to continuing to work with the leading industry associations and IFAs to improve and evolve the understanding and management of risk during an important period of change for the industry.”
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