The unit will operate under the new name Howden BCZ Versicherungsbroker AG following the transaction.
BCZ is an independent intermediary serving Swiss SME clients, brokering personal lines, property and asset insurance.
The deal itself follows a number of acquisitions and start-ups for Howden across Europe.
Last week, Howden announced its acquisition of Estonian broker CHB Insurance Brokers. This followed the announcement of a deal to buy Italian intermediary Scagliarini in July, and a deal struck in April to acquire Spanish broker Artai.
Howden has also recently hired former Aon EMEA specialty CEO Luigi Sturani as CEO of Europe and Aon Switzerland Risk Solutions CEO Felix Jenny as CEO of Howden Switzerland.
Referring to the Swiss acquisition, Sturani said: “Howden Switzerland's acquisition of BCZ is the most recent example of us executing on our European strategy: to build businesses across the continent that offer both clients and talent something different and exciting.”
Jenny explained that Howden sees growth potential by being the natural home for independent brokers in Switzerland.
“In this way, clients can access the expertise and specialisms drawn from Howden’s international network in their local market,” he added.
BCZ is led by current owners Teodoro Martino and Josef Eckl Zenger, who will remain with the business.
Martino said: “The core of our corporate philosophy is to always put our clients at the centre of our thoughts and plans. We want to offer them even more expertise from a single source in Switzerland by expanding Howden’s geographical footprint.”
