Howden Re and TigerRisk Partners have announced the creation of a new group, Howden Tiger SabRE, comprising the existing global MGA and Program capabilities of Howden Re and TigerRisk.

The new MGA will be in place following the completion of Howden Group Holdings’ acquisition of TigerRisk, which is expected to close in first-quarter 2023, subject to regulatory approval.

Comprising specialists from Bowood, Howden’s specialist delegated binding authority division, TigerRisk and Howden Re’s Coverholder teams, SabRE will place a combined $6 billion of gross written premium (GWP), making it the largest MGA/Program broking group globally. The SabRE team will be supported by Howden Re and TigerRisk’s treaty and facultative capabilities, bespoke analytics, market leading investment bank, industry-leading data and analytics team, and strategic advisory group. Howden Re, TigerRisk and Bowood coverholder teams will align strategies, resources and expertise but retain independent branding.

SabRE’s leadership team will include Michael Jameson and Matt Beard of Howden Re in the U.S., Bowood’s Stephen Greener and TigerRisk’s Neill Cotton. They will be supported by Ollie Pigeon, Adam Codrington, Mark Sleet, Joe Wakeley, Stuart Beatty, Harry Rokeby-Johnson and Nick Harrap. Greener will become chair of SabRE and report to Howden Re Chair Elliot Richardson, who will be vice chair of the merged Howden Tiger entity upon completion of the transaction.

“The aligned capabilities of SabRE will produce the only ‘full stack’ reinsurance broker in the MGA and program marketplace,” said Rob Bredahl, CEO, TigerRisk, in a statement. “SabRE will be the leading capacity finder, investment banker and strategic adviser to this rapidly growing and important sector.”