Case Study: Howden

A Business Like No Other

Ask David Howden, CEO and founder of Howden Group, why his company is a broker like no other and he won’t simply talk to you about numbers. Although, they’re pretty impressive. 

Today, Howden manages over $50 billion in premiums for clients across fifty-seven countries, employs 24,000 people and has organic growth that consistently outperforms its peers. Not bad for a company that started three decades ago with just three people and a dog called Flight on reception.

David would rather talk about employee ownership. Embedded into the business’ DNA from the very beginning, he believes it’s the secret ingredient of his company’s success.

Empowered Employees

Fed up with coming into work and finding another letter telling him his business had been sold to an American firm, David resolved to start up a new firm that made its people owners.   

“I wanted us to be a fresh alternative to talent and clients,” said David.

“I knew that, if we put our people first and made them owners, they would go the extra mile for clients.

“That’s why I always say don't come and work here, come and build a business.

“And, by pairing our employee owners with aligned long-term investors, our colleagues would have the freedom to work and innovate in their clients’ long-term interests.”   

Which is why, more than three decades on, that scrappy London start-up has become the second largest employee owned business in the UK by revenue.

Today around 6,000 Howden colleagues are shareholders.   

And Howden is one of a handful of truly global brokers – spanning reinsurance, MGAs, specialty broking, and a rapidly growing US retail operation that went from zero to 1,000 people in just six months.

You can discover more about what employee ownership means to the people at Howden in this dedicated video.

 A Force for Good

But, as already established, David is motivated by more than mere commercial success.

He’s always believed that his business should give back, be a force for good and change the way world sees risk and insurance.

So, over a decade ago, Howden established The Howden Foundation. It gives to causes its employees care about and, as another shareholder in the business, its capacity to help others grows as the company grows.

To date, the Howden Foundation has raised millions funding everything from clean water in Malawi to income protection for women suffering from extreme heat in India.   

Meanwhile, Howden also co-founded the charity Humanity Insured. It funds a portion of insurance premiums to help the most vulnerable access world-class insurance.

It has already unlocked £44 million in insurance coverage for local communities, delivered £6.7 million in direct payouts and protected more than two million people from climate shocks.   

A Big Vision

Having powered the growth of the company from the very start, it’s no wonder David sees employee ownership as a massive part of Howden’s future.

The vision is for the business to get to 40,000 people by 2030 – with half of them shareholders.   

"There's no other model that gives your people and your business that independence, innovation, and freedom to flourish,” said David.  

And his advice to others thinking of going down the employee ownership path?

“Do it! Employee ownership changes the way we do business. It’s more productive, more profitable. Just imagine what we could do for the growth of the global economy if we help put more companies into the hands of more people…”