Howden Insurance Brokers, a division of Hyperion Insurance Group, has acquired Workplace Pension Solutions (UK) (WPS) for an undisclosed amount to foray into the UK employee benefits market.
As part of the acquisition, WPS will be operated under the Howden brand.
Howden Insurance Brokers CEO John Bennett said that WPS is a client-focused operation staffed by experienced employees and with strong systems and technology capabilities.
"WPS’ existing clients will benefit from access to Howden’s wider corporate insurance capabilities; the addition of a strong employee benefits capability to Howden’s portfolio will allow us to provide our UK clients with our own in-house employee benefits expertise," Bennett added.
WPS managing director Robbie Weston said that Howden offers both the collaborative environment and the technical and financial resources which will allow the company to continue to develop proposition.
Established in 2012, WPS provides pension consulting and administration, flexible employee benefits and a range of employee related insurances in the UK.