FY2023 highlights

  • Exceptional financial performance: a 33% increase in revenue to £2,443m (FY22: £1,841m), and a 30% increase in adjusted consolidated EBITDA to £780m (FY22: £599m), with EBITDA margin of 31.9%, driven by a combination of organic growth of 13% (FY22: 19%) and selective acquisitions.  The Group’s employee ownership model consistently delivers excellent service that helps retain and win new clients. 
  • Successful and sustainable capital management strategy: the Group has supportive shareholders who have contributed over £1bn of equity in FY23 to support investment for growth. The Group also has good access to the capital markets to raise financing for M&A; it raised $1.375bn (£1.1bn) of incremental debt to support its investment programme in FY23 while maintaining its rating.
  • 56 completed acquisitions, including five transactions over £25m EV in FY23, building out Howden’s leading position in key markets: TigerRisk in the US, March RS in Spain, Apex in New Zealand, Théorème in France and Reich Insurance in the UK.
  • Howden welcomed 1,000 new employee shareholders in 2023, taking the total number to 4,500 from 35 out of the 50 countries in the Group.
  • Total headcount, pro forma for acquisitions post year end, stands at 16,000, with 800 people joining the Group in FY23 from lateral hiring as part of new initiatives.
We celebrate our 30th anniversary in 2024 as the largest privately held global insurance intermediary group outside North America with 16,000 employees in 50 countries looking after clients in retail, specialty and reinsurance broking, capital markets and underwriting.
David Howden, CEO

Read our financial results