SabRE will come into form following the completion of Howden Group Holdings’ (Howden) acquisition of TigerRisk, which is expected to close in Q1 2023, subject to regulatory approval.
The new group will bring together specialists from Bowood – Howden’s specialist delegated binding authority division-, TigerRisk and Howden RE’s coverholder teams.
According to the announcement, the business will place a combined $6 billion of gross written premium (GWP), making it the largest MGA/programme broking group globally.
Elliot Richardson, Chair, Howden RE commented: “MGA and Programme broking is part of our DNA and with the combination of our teams at Howden RE, TigerRisk and Bowood we will create an industry first with SabRE.
“SabRE will have a combined offer of unrivalled depth, scale and expertise and be a core part of what we will be building with TigerRisk – a leading position in our chosen markets and a superior offering for the modern client.”
SabRE’s leadership team will include Michael Jameson and Matt Beard of Howden RE in the US, Bowood’s Stephen Greener and TigerRisk’s Neill Cotton. They will be supported by Ollie Pidgeon, Adam Codrington, Mark Sleet, Joe Wakeley, Stuart Beatty, Harry Rokeby-Johnson and Nick Harrap.
Stephen Greener will become chair of SabRE and report to Howden RE chair Elliot Richardson, who will be vice chair of the merged Howden Tiger entity when the deal is completed.
In addition, the SabRe team will be supported by Howden RE and TigerRisk’s treaty and facultative capabilities, bespoke analytics, market leading investment bank, industry leading data and analytics team, and strategic advisory group.
While Howden Re, TigerRisk and Bowood coverholder teams will align strategies, resources and expertise, they will retain independent branding.
Rob Bredahl, CEO, TigerRisk said: “The aligned capabilities of SabRE will produce the only ‘full stack’ reinsurance broker in the MGA and programme marketplace. SabRE will be the leading capacity finder, investm