UK insurance broker Alexander Howden has invested $2.5 million in Israel. Alexander Howden acquired 51% of a newly founded insurance agency that will market directors and other professional indemnity policies. Davidoff Insurance Brokers owns the other 49%.
This is Alexander Howden’s first investment in Israel since the outbreak of the intifada two-and-a-half years ago.
Alexander Howden, one of the oldest insurance brokers in the UK, is a leader in director and personal liability insurance. Alexander Howden is part of Hyperion Insurance group, which is also active in Italy, Spain, and Argentina.
Davidoff is Israel’s leading agency for directors and manager liability insurance. It brokers policies for executives in government and private companies, as well as attorneys, accountants, engineers, architects, and financial advisors.
The new company and Alexander Howden will now jointly market director and liability policies, while Davidoff will continue to independently market policies in other fields.
Published by Globes [online] - www.globes.co.il - on March 5, 2003