Global Insurance Intermediary Group Howden Expands in Chile Through Strategic Acquisition
Global insurance intermediary group Howden has announced the acquisition of Ureta & Fernández Corredores de Seguros Limitada (U&F), a prominent independent retail brokerage based in Santiago, Chile. This strategic move deepens Howden’s presence in the Chilean market and aligns with its broader Latin American growth strategy.
Following the acquisition, U&F founder Felipe Ureta has been named CEO of Howden Chile. This deal marks a significant milestone in Howden’s long-term regional investment plan, which targets five key markets across Latin America: Mexico, Colombia, Brazil, Peru, and Chile. It follows the recent purchase of Innova Re in Peru, one of the largest independent reinsurance brokers in that market, reinforcing Howden’s ambition to build scale and expertise across the continent.
Founded in 2010 by Felipe Ureta and later joined by Matias Fernandez, U&F has established a strong reputation for its work in property and casualty, motor, civil liability, construction, and marine hull insurance. The firm also boasts a robust portfolio in specialty insurance classes, including aviation, financial lines, and reinsurance. Its notable presence in southern Chile’s marine and fishing industries supports Howden’s emphasis on local expertise and sector-specific knowledge.
“U&F have worked alongside Howden’s Marine specialty team for several years, and the leaders of our existing business in Chile saw in them a natural fit and succession,” said Sonia Caamaño, CEO of International Growth Markets at Howden. “By combining our forces, we can provide an integrated and powerful proposition with strong distribution and expertise, solidifying Howden’s presence in Chile and enabling us to continue delivering the scale and bespoke solutions our clients require.”
The acquisition reflects a growing trend of consolidation among insurance intermediaries in the Latin American market, driven by increased client demand for complex risk solutions, greater geographic reach, and localized servicing. Felipe Ureta commented: “Joining the Howden family permanently is a significant next step in our journey, enabling us to leverage Howden’s global capabilities and expertise to better serve our clients.”
Francisco Iglesis and Pedro Iñiguez from Howden Chile added: “Through this acquisition, we will expand and strengthen our existing capabilities and service offering while maintaining our commitment to excellence in service. We are excited about the new opportunities this will generate while moving forward with the same principles and commitments that have always characterized and differentiated us in the market.”
This latest move continues Howden’s international expansion model, which combines strategic acquisitions with a people-first culture and specialist-driven proposition. The integration of U&F is expected to enhance Howden’s regional service capabilities, particularly in marine and industrial lines, positioning the firm as a leading player in Chile’s evolving insurance landscape.
