Howden Broking Group has announced that it has established a presence in Brazil after it acquired a 51% stake in Conset Seguros.
Conset, a specialist broker with a major focus on the construction industry, was founded 14 years ago by Fernando Castro and Adelia Ribeiro and operates from offices in Rio de Janeiro, Sao Paolo and Belo Horizonte.
Following the acquisition by Howden of a 51% stake in Conset, Castro and Ribeiro will continue to lead the business.
Howden Broking Group Chief Executive Officer Tim Coles described Brazil as one of the world’s most important economies with a future that was hugely exciting.
Coles went on to say that he was delighted that Howden was joining with Conset and praised Castro and Ribeiro as respected figures within the industry.