The Swiss insurance market continues to grow. According to the latest figures from the Swiss Financial Market Supervisory Authority (FINMA), the total results of Swiss insurers increased by 5.9 billion francs to 13.6 billion francs – an impressive 78 percent growth. Last year, companies in the non-life sector recorded significant profit increases, while the life insurance sector remained stable. This growth makes Switzerland attractive for brokers as well. The market has been under consolidation pressure for several years: bigger is better, as the saying goes, with many market leaders having an American background.

Integration is key

Howden, an English broker, entered the Swiss market in spring 2021 with the goal of shaking things up. «We see ourselves as the European answer to the large American brokers,» says Howden Switzerland CEO Felix Jenny.

When it comes to expansion, Howden Switzerland is keeping pace with its U.S. competitors. Since 2021, Howden has completed twelve acquisitions, four of them in the current year alone. «We need a certain size to have market clout. But buying alone is not enough,» Jenny explains. The key is integration, which takes time and requires a delicate touch. «Forming a new team is exciting but also challenging,» he says.

«In Two to Three Years, We Will Know if We Did it Right»

Since entering the Swiss market, Howden has acquired twelve brokers, having thoroughly evaluated over 60, as Jenny points out. The firm places a strong emphasis on soft skills. «A broker needs to understand their business, but they also need to be a good listener. Ultimately, we are not just selling products; we are here to understand our clients' interests and provide the best possible solutions,» Jenny explains.

Jenny has set a seven-year timeline to become one of the top players in the Swiss broker market. After three years, he estimates that they are 40 percent of the way there. «In two to three years, we will know if we did it right,» he emphasizes.

Focus shifts to the  Romandy

Looking ahead, Howden is planning further expansion, with a particular focus on the French-speaking region of Switzerland. «Romandy is still a blank spot on our map, and we are determined to tap into that market,» Jenny says.

Howden has been searching in Ticino for some time, but Jenny remains patient: «We’ve always known that establishing ourselves in Switzerland would be a challenging task. That makes it no less appealing,» he says.