Howden Group & Ault & Company

History and Founding

Howden Group Holdings was founded in 1994 by David Howden in a single rented office in London. Starting with three employees, the company has grown into a global insurance intermediary with approximately 23,000–24,000 employees across 56 countries. The firm’s employee-ownership model, where staff collectively own over 30% of the business, has been central to its culture of independence and long-term thinking. From its inception, Howden focused on providing innovative risk solutions across the entire insurance value chain.

Business Model

Howden operates as an insurance intermediary, generating revenue through commissions and fees from broking and underwriting activities. The group is structured into three main pillars: Howden Broking (retail, specialty, and reinsurance broking), DUAL (underwriting via managing general agencies), and Howden Capital Markets & Advisory (structured risk transfer and insurance-linked securities). The employee-ownership model aligns incentives with client outcomes and supports a decentralized, entrepreneurial approach. Howden also leverages its Howden One Network—a global partnership of over 25,000 independent professionals—to service cross-border client needs without maintaining physical offices in every territory.

Products and Platforms

Howden offers a wide range of products and platforms. Howden Broking provides direct insurance and risk management services to individuals, SMEs, and large corporates across sectors such as healthcare, construction, financial services, technology, real estate, and private capital. Howden Re is the reinsurance broking and advisory arm, serving insurers and reinsurers with data-driven capital and risk solutions. DUAL is one of the world’s largest managing general agencies, with over 1,800 employees in 21 countries, offering underwriting capacity across 70 product lines. Howden Capital Markets & Advisory specializes in structured risk transfer, insurance-linked securities, and capital advisory. The Howden One Network facilitates global referral business among independent insurance professionals. In 2024, Howden acquired the Cybeta platform to enhance cyber insurance risk analytics and placement capabilities, particularly for U.S. clients. Howden Specialty provides deep expertise in complex lines such as financial lines, marine, energy, aviation, and political risk. The Employee Health & Benefits division offers employee benefits brokerage and advisory services in multiple markets including the U.S. and Latin America.

Market Position and Competition

Howden is one of the largest privately-owned insurance intermediaries globally, managing around US$50 billion in premiums. It competes with major brokers such as Aon, Marsh, and Willis Towers Watson, as well as with regional and specialty brokers. The company’s employee-ownership model and entrepreneurial culture differentiate it from publicly-traded competitors, attracting both talent and clients seeking an alternative to the largest firms. Howden has been rapidly expanding its U.S. retail brokerage presence, building a team of experienced professionals and pursuing strategic acquisitions.

Leadership

David Howden serves as Founder and Group CEO. David Shalders is Group COO, Mark Craig is Group CFO, and Louise Cable-Alexander is Group Chief of Staff. Regional leadership includes Mike Parrish as CEO of Howden Americas (covering the U.S., Brazil, Mexico, Colombia, Peru, Chile, and the Caribbean), and Jim Hays as Vice Chairman of Howden Group Holdings. Alex Williamson holds the role of Data Officer for Howden US. The group’s executive committee includes additional regional and functional leaders.

Recent Developments

In December 2025, Howden announced a debt repricing and upsize of approximately US$3 billion to support growth funding. The company completed the acquisition of the Cybeta cyber platform in 2024 and also acquired the Atlantic Group to strengthen its transaction liability capabilities. Howden continues to invest in technology and data analytics to enhance its service offerings, particularly in specialty lines and cyber insurance.