Portofino Investments Advised Howden Israel in its Strategic Acquisition of Napa Personal Financial Management
Howden Israel, acquired Napa - Personal Financial Management Agency, which is considered to be one of the largest private Employee Benefits agencies in Israel.
Following the acquisition, “Howden-Wise”, which operates in the pension insurance sector will merge with Napa. This will make Howden Israel a unique one-stop-shop that will offer, for the first time in Israel, a comprehensive range of insurance, and financial products for companies and their employees domestically and internationally, by a global insurance broker.
The chairman of Howden Israel and CEO of Howden Europe, Mr. Danny Sever, congratulated the deal, stating: “We are thrilled to strengthen the dominance of Howden Israel in the local insurance market, by entering into the high-quality Employee Benefits business. The acquisition reflects Howden’s strategy to become the dominant insurance broker in every country it operates in, and will enable Howden Israel to become the first international insurance broker in Israel, providing holistic insurance services to our extensive and loyal customer base.”
NAPA:
Since its inception in 2000, Napa has been providing a unique One-Stop-Shop solution for “EBM”, Employee Benefits Management. Napa offers a full range of services in the fields of pension, long-term savings, compensation & benefits, health insurance, tax refunds, mortgage advisory, and more. In order to ensure employers comply with regulations, Napa also provides comprehensive in-house end-to-end services, including trust accounts, pension processing, healthcare insurance plans, and risk insurance plans.
Howden:
Howden Israel, part of Howden Group, is one of the top three insurance brokers in Israel. Howden has been providing comprehensive solutions to clients in Israel since 2003, offering bespoke insurance policies and dedicated claims handling expertise, serving hundreds of businesses in Israel and around the world across a wide range of industries.
As part of a global group, Howden enjoys direct access to thousands of expert broker colleagues and partners around the world. Howden maintains an on-the-ground presence in over 90 territories and works in almost every market in the world.