International insurance coverage group Howden is about to accumulate Gravitas Insurance coverage Company, a US-based retail brokerage that gives contingency insurance coverage for music, sport and dwell occasions.
Gravitas was established in 2022 by John Tomlinson to focus on insurance coverage methods for the leisure sector.
Earlier than founding Gravitas, Tomlinson led the North America leisure operations at Lockton and developed its music insurance coverage follow.
Howden described the deal as a part of its US enlargement and an extension of its Sport & Leisure capabilities.
The announcement follows Howden’s current Sport & Leisure acquisitions worldwide, together with German movie and leisure dealer Franz Gossler, UK performing-arts dealer Hencilla Canworth, and Spain’s Boni Aldaya.
Howden vice-chair Jim Hays mentioned: “As Howden lately made clear by establishing a US management crew for its enlargement on this dynamic market, we’re dedicated to creating alternatives for essentially the most gifted and main gamers within the sector.
“The addition of Gravitas is a superb instance of how we’re rising our enterprise within the US by way of a mixture of expertise and strategic acquisitions. By harnessing our excellent world capabilities with specialist experience, we ship service with a distinction to shoppers.”
Monetary particulars of the transaction haven’t been disclosed by each the businesses, and the completion of the deal is topic to customary closing circumstances.
Gravitas founder and CEO John Tomlinson mentioned: “The highly effective partnership between Gravitas and Howden was solid a few years in the past and has confirmed to be a real distinction maker for the leisure neighborhood.
“This thrilling subsequent evolution as a unified entrance will really power multiply our capacity to ship unparalleled outcomes for the shoppers we serve and grow to be the vacation spot of alternative for the highest expertise in our business.”
