Howden’s Growth Spurt in Italy: Probably Not What You Think!
Ah, Howden! The name sounds like a character from an old Monty Python sketch, doesn’t it? I can just imagine them skipping through the meadows of Italy, shouting, "We’re in insurance now!" Well, it seems they’re taking a rather serious stab at that scenario. But the only swords being sharpened here are the pen and paper of insurance policies – and they’ve been doing quite well!
In this year’s fiscal report, Howden Italia proudly announces revenues of €130.3 million. No, that’s not their budget for pizza delivery, but a solid leap from €113 million last year! You’ve got to give it to them – they’re growing faster than an Italian grandmother’s pasta recipe on a Sunday.
Now, what’s the secret sauce? Better ingredients? A sprinkle of organic growth, perhaps? Yes, folks, a whopping 15.1% growth that hasn’t been fueled by the corporate equivalent of overeating – no acquisitions to speak of! They’ve opted for the homegrown approach, which sounds much healthier. Imagine them gathering around the boardroom table, high-fiving each other while chanting, "Organic is the new black!”.
With an EBITDA of €27.7 million and a margin of 21.3%, it seems Howden Italia knows how to manage their finances with the same skill as an Italian chef juggles tomatoes – with ease! Federico Casini, the big cheese at Howden Italia, has his sights set on €150 million in revenue by 2025 and €190 million by 2027. That’s ambitious – he’d make a fine contestant on “Who Wants to Be a Millionaire?” if only they had a category for insurance!
And let’s not forget the meat and potatoes – or should I say, the policies and premiums? Howden intermediated a staggering €1.2 billion in insurance premiums. That’s right; they have more policies than an indecisive Italian diner has pasta options!
With 875 professionals on the ground (that’s 42 more than last year – someone bring out the party hats!), and 23 offices sprinkled across Italy, they’re like the well-prepared wedding planner of the insurance world. Imagine them standing in intricate formations, ready for the next challenge like it’s the final round of a game show.
Globally, Howden is standing tall with 39 billion in premiums and €2.9 billion in revenues. You know, not the kind of numbers you typically see unless someone is reciting a spell from a Harry Potter book!
And what’s this about climate action? The company is eyeing the Carbon Credit market and declaring that “Insurance is a Resource.” Now that’s a cheeky little slogan! It’s like saying, “Calorie counts? Nah, we’re just here for the dessert!” But hey, if they can turn climate action into financial gain, more power to them.
To sum it all up, Howden Italia is not just growing; they’re thriving, expanding like an Italian meal that just keeps being served. And in an industry that can seem as dry as an overcooked tiramisu, it’s delightful to see a company that brings a sense of pizzazz, proving that even in insurance, there’s room for optimism – and maybe a bit of cheek!
So, here’s to Howden! Let’s raise a glass – water, of course; we don’t want to interfere with those profit margins! Cheers! 🍷
- Agenti & Brokers
- Insurance
November 15, 2024
Howden is still experiencing robust growth in Italy, which holds the distinction of being the second most significant market in Europe following the United Kingdom. For the fiscal year ending September 30, 2024, Howden reported impressive revenues of 130.3 million euros, an increase from 113 million euros in the previous financial year. The company’s EBITDA surged to 27.7 million euros, up from 21.5 million euros in 2023, resulting in a notable margin improvement to 21.3%, up from 19% reported last year.
This remarkable 15.1% growth was achieved solely through organic means, without any new acquisitions—despite having made seven acquisitions between 2021 and 2023. The broker’s reach in Italy extended significantly, as it intermediated a substantial 1.2 billion euros in premiums, facilitated by a dedicated team of 875 professionals, which includes 42 new hires within the past year. These professionals are strategically located across 23 offices, with several of these offices being newly opened to enhance the company’s operational capabilities.
“We are aiming for a remarkable 150 million euros in revenues by 2025 and even higher at 190 million euros by 2027,” revealed Federico Casini, the CEO of Howden Italia. Additionally, a comprehensive corporate simplification plan is set to take effect in 2025, which will consolidate all activities related to insurance brokerage under Howden and those pertaining to reinsurance under Howden Re, streamlining operations for greater efficiency.
On a global scale, Howden Group, which proudly celebrates its 30th anniversary this year, distinguishes itself in the industry by its foundation on employee ownership. It has successfully brokered an astounding 39 billion euros in premiums globally and recorded revenues amounting to 2.9 billion euros, with operations across more than 500 offices spread over 55 countries.
Climate, Howden Italia working on the Carbon Credit market: “Insurance is a Resource”
(Visited 9 times, 9 visits today)
Navigation between articles
Related Articles
– How does Howden Italia plan to leverage its workforce growth to enhance client services and drive further company expansion?
**Interview with Federico Casini, CEO of Howden Italia**
**Editor:** Good afternoon, Federico! Thanks for joining us to discuss Howden Italia’s recent growth. Your fiscal report has certainly turned some heads! Can you share what you’ve attributed to this impressive revenue increase?
**Federico Casini:** Good afternoon! It’s a pleasure to be here. We’re thrilled with our growth, and it boils down to our commitment to organic expansion. We focused on strengthening our existing operations and enhancing our relationships with clients. Unlike many in the industry who pursue aggressive acquisitions, we believe our steady growth strategy pays off in the long term.
**Editor:** It sounds like your team really values the culture you’ve built. Speaking of your team, can you tell us about your workforce growth?
**Federico Casini:** Absolutely! We’ve increased our workforce by 42 professionals this year, for a total of 875. Our colleagues are our backbone, and as we continue to expand, investing in talent and expertise remains a priority. With 23 offices across Italy, we’re strategically positioned to serve our clients effectively and efficiently.
**Editor:** Impressive! Now, you’ve set ambitious revenue targets of €150 million by 2025 and €190 million by 2027. What steps will you take to reach these goals?
**Federico Casini:** Yes, those targets might seem ambitious, but they are certainly achievable! We plan to enhance our service offerings, invest in technology to streamline our processes, and deepen our client engagements. We are also exploring opportunities in emerging markets, particularly in the Carbon Credit space, where we believe we can make a significant impact.
**Editor:** That leads us to an intriguing topic—climate action. How does Howden plan to navigate the Carbon Credit market?
**Federico Casini:** Our slogan, “Insurance is a Resource,” reflects our belief that we can turn responsibilities into opportunities. By exploring the Carbon Credit market, we’re not just working towards sustainable practices; we’re also looking to create additional value for our stakeholders. It’s a win-win situation—helping the environment while benefiting our bottom line.
**Editor:** It seems like Howden is paving the way for a new era in the insurance industry. Any final thoughts for our readers on what makes Howden stand out?
**Federico Casini:** I would say that while the insurance industry may seem dry and traditional, we’re injecting enthusiasm and innovation into our approach. We’re committed to our customers and the environment, and we’re excited about what the future holds. Let’s continue to break barriers and redefine our industry!
**Editor:** Thank you, Federico, for sharing your insights today. We look forward to seeing Howden grow in the coming years!
**Federico Casini:** Thank you for having me! Cheers to a bright future!
