1. Could you briefly tell us the history of your company? Which family generation do you belong to?
Our company Artai was founded in 1993, when a group of insurance professionals in Vigo (Galicia, Spain) decided to start their own venture, breaking away from the Galicia office of Gil y Carvajal (now known as AON).
We knew the business well from a technical standpoint, and we knew the model of commitment to our clients well, most of whom placed their trust in us. Our original idea was to manage our original clients' business, but we soon realized there was a gap in the market for private, independent professionals serving family businesses.
Our core focus is “owner-run” companies, to which we offer more personalized, hands-on services, with total commitment to them.
2. What were the hardest factors in achieving growth in the company's early years?
Right from the start, the insurance industry gave us very strong support, which was undoubtedly necessary to offer our clients the right capabilities and products. Our initial growth was exponential, which is why we needed to “gear up” by betting on technically flawless, highly respected professionals, some of whom had the opportunity to become partners in our venture.
In fact, our biggest challenge was finding those professionals, since they were also taking a risk by joining a new and riskier venture, trading a comfortable position at a large company for an exciting, forward-looking project.
3. What led you to decide on a corporate transaction, bringing in an investor partner or selling all of the shares?
Without a doubt, we needed a change. We had become the leading private, independent broker in Spain, and the next stage was to reinvent ourselves once again and become a strong group nationally and internationally.
We could do it with the help of a financial partner or an industry partner, and we chose the latter, joining a large, emerging group like HOWDEN, which still had the qualities of closeness and commitment to the client and values professionals as people. We decided to bet on the HOWDEN project after analyzing several options.
4. What factors helped you choose the best partner?
Undoubtedly, the fit of our professionals within a group where they would have very strong career development. In addition, it was also important to analyze and assess the synergies between the two groups in Spain, where there would be great development prospects in terms of both business lines and geographic areas. We are highly complementary partners.
5. Describe the main advantages of bringing a financial/corporate partner into your company
In our view, and as I said before, our goal was to keep growing on a solid foundation and with a forward-looking project that would give our professionals a place within it. I believe we will achieve this with the industry partner we have chosen.
