Howden Broking Group has forged a strategic partnership with insurance broker BR Puri & Company to establish a new insurance firm in Tanzania.
The formation of new entity, to be known as Howden Puri Insurance Brokers Limited, is part of Howden’s strategy to expand global footprint.
Howden Broking Group is part of UK-based Hyperion Insurance Group and offers a range of specialist insurance solutions to clients globally.
Commenting on the partnership, Hyperion and Howden CEO David Howden said: “This is an excellent partnership for Howden in Africa and we are delighted to be working with BR Puri. As one of the market leaders in Tanzania, their strong client focus makes them a natural match for Howden.
“Joining forces means Howden Puri is well placed to service local businesses as well as the international community in Tanzania, East Africa and beyond. The opportunities for growth are very exciting.”
Umesh Puri, who will assume the role of CEO of Howden Puri, said that the goal is to actively explore new insurance products and pave the way for innovation.
“Tanzania was selected as the first direct investment for Howden in Africa because we believe that recent initiatives undertaken by the regulator are encouraging and the overall outlook for the country is positive,” Puri added.
Commenting on the announcement, Howden Puri chairman Arun Puri said: “BR Puri & Company, founded by my father in the 1950s, was one of the first insurance brokerage firms in Tanzania.
“I am convinced that the combination of our local knowledge and experience and Howden’s expertise and global reach will be of great benefit both to our existing and new clients.”