Global insurance intermediary Howden has strengthened its presence in Latin America with the acquisition of Ureta & Fernández Corredores de Seguros Limitada (U&F), a leading independent retail insurance brokerage based in Santiago, Chile.
The acquisition aligns with Howden’s strategic growth plan across Latin America and marks a significant step in its commitment to the Chilean market. As part of the transaction, U&F founder Felipe Ureta has been appointed CEO of Howden Chile.
This move follows Howden’s recent acquisition of Innova Re in Peru—one of the country’s largest independent reinsurance brokers—and underscores the firm’s ambition to scale its operations across five priority markets in the region: Mexico, Colombia, Brazil, Peru, and Chile.
Founded in 2010 by Felipe Ureta and later joined by Matias Fernandez, U&F has earned a strong reputation for its expertise in property and casualty, motor, civil liability, construction, and marine hull insurance. The firm also brings robust capabilities in specialty lines, including aviation, financial lines, and reinsurance. Its deep presence in southern Chile’s marine and fishing sectors complements Howden’s focus on local expertise and sector-specific knowledge.
The acquisition reflects the broader consolidation trend within Latin America’s insurance intermediary market, as firms respond to rising client demand for sophisticated risk solutions, broader geographic coverage, and high-touch local service.
Commenting on the deal, Felipe Ureta said: “We have enjoyed a successful partnership with Howden over the years. Becoming part of the Howden family marks a pivotal step forward, allowing us to harness its global strength and specialist resources to enhance client service.”
Francisco Iglesis and Pedro Iñiguez of Howden Chile added: “With the integration of U&F, we’re expanding our capabilities while staying true to the values and service excellence that set us apart. We look forward to the new opportunities this partnership will unlock.”
This latest move reinforces Howden’s international growth strategy, which combines targeted acquisitions with a people-first culture and a specialist-led approach. The addition of U&F is set to enhance Howden’s service offering in Chile—particularly in marine and industrial sectors—and solidify its position as a leading player in the country’s evolving insurance landscape.
