UK-based Howden Broking Group, a subsidiary of Hyperion Insurance Group, has agreed to buy Bogota-based reinsurance broker NMB Colombia Corredores de Reaseguros.
NMB Colombia focuses on the Energy sector, including Oil and Gas. It also places business for clients in areas that include Marine, Property, Casualty and Political Risks.
The company will operate as Howden Re Colombia under the leadership of Ricardo Diaz, who joins from Guy Carpenter. Ian Webb, who was Head of NMB Colombia, becomes Head of Howden Energy Colombia, part of Howden Re Colombia.
Hyperion Insurance Group CEO David Howden said: "The addition of a well-respected Colombian reinsurance broker, following the acquisitions of leading insurance brokers Walcolda and Proseguros in Colombia last month, is an important milestone in the development of our Iberoamerican platform."
All the acquisitions remain subject to regulatory approval.