Howden enters Japanese retail insurance market
Howden enters Japanese retail insurance market | Insurance Business Asia
Insurance News
Howden enters Japanese retail insurance market
Industry veteran to lead business
Insurance News
By
Roxanne Libatique
Global insurance intermediary Howden has entered Japan’s retail insurance broking and captive consulting markets through the acquisition of Foresight Holdings Co Ltd.
As part of the move, Howden has appointed Takuya Aibe (pictured) as CEO of its Japanese retail operations.
Aibe previously held senior roles at Marsh Japan for over two decades and most recently served as CEO of Gallagher Japan.
Established in 2005, Foresight provides licensed retail brokerage services, allowing Howden to offer risk solutions to clients in Japan. The company also operates captive consulting services domestically and captive management services in locations such as Micronesia, Singapore, and Hawaii.
Headquartered in Tokyo, Foresight employs 17 staff across six locations. Its management team, composed of experienced professionals with backgrounds at major Japanese insurers, currently oversees captive programs for 13 large Japanese corporations.
Following both acquisitions, Howden now manages around 100 captives worldwide.
Howden’s launch in the Japanese market
Howden officially entered the Japanese market in July 2024 by naming Kentaro Tada as CEO of Howden Japan.
In addition to reinsurance, Howden Re Japan offers strategic consulting based on data and analytics, as well as tailored Insurance-Linked Securities (ILS) solutions for local market needs.
What to expect from Howden’s acquisition of Foresight
Highlighting the significance of the Foresight acquisition in expanding Howden’s offerings, Tada said partnering with Foresight significantly broadens the company’s services for Japanese clients.
“Howden Japan can now offer retail broking and captive management services alongside its reinsurance and ILS capabilities,” he said.
Kenichiro Hamada, CEO of Foresight, described the acquisition as a pivotal moment for his firm.
“After almost 20 years of developing our business, joining with Howden is the next significant step in our growth journey,” he said.
He added that the deal allows Foresight to leverage Howden’s global platform and resources, positioning the company to better serve its clients and strengthen its presence in Japan’s captive market.
Takuya Aibe, who will lead Howden Japan’s retail business, expressed enthusiasm for the company’s potential in the region.
“I look forward to using my experience to serve our Japanese clients and contribute to the expansion of Howden Japan,” he said.
The acquisition is part of Howden’s strategy to build a comprehensive insurance platform in Japan, with a focus on retail, reinsurance, and captive management services.
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