Watson Farley & Williams Athens (“WFW”) has advised Howden Hellas on its acquisition of yacht insurance brokers IYC Insurance Brokers PC from the IYC Group.
Howden Hellas is the largest insurance and reinsurance broker in Greece and Cyprus and a unique company in the Greek market with a comprehensive approach to the needs of high-net-worth clients. It is a member of Howden Broking Group, which has a global footprint with more than 15,000 employees in 50 countries and handles more than US$35bn in written premiums for its clients.
IYC Insurance Brokers is an international leader in superyacht insurance coverage, having provided insurance brokerage services for the IYC Group, which has the world’s largest mega-yacht fleet under management. The IYC Group and its clients’ insurance needs will continue to be serviced by IYC Insurance Brokers PC as part of Howden Hellas, cementing the latter’s position as an international market leader in yacht insurance brokerage.
The WFW Athens team that advised Howden was led by Partner Virginia Murray, supported by Senior Associate Georgia Mathiopoulou, Associate Eleni Stylianou and Trainees Alexia Zeriti and Dimitris Mavroudeas.
Virginia commented: “This is the second share transaction in the Greek insurance sector we have advised on in the last six months, confirming WFW Athens corporate team’s ability to support clients on M&A transactions and related agreements across a range of regulated sectors. Howden has a great team and we look forward to supporting them in their achieving their ambitious plans going forward”.
Aelita Arampova, Head of M&A for Howden Hellas Group of Companies said: “The acquisition of IYC marks a significant milestone for Howden Hellas, propelling us further into the yachting industry. We are confident that this partnership will yield fruitful results and contribute to our continued success in delivering unparalleled experiences to the Howden clientele. The invaluable expertise and professionalism of Virginia and her team at WFW played a key role in shaping this deal”.
