The merger is expected to deliver speciality expertise through Hyperion Insurance’s international offices and network
Image: Hyperion Insurance to merge broking businesses. Photo: Courtesy of rawpixel/Pixabay
UK-based insurance intermediary Hyperion Insurance Group has announced that it will merge its retail and specialist broking businesses, Howden and RKH, under one management team with effect from this October 1.
José Manuel González has been appointed as the CEO of the new entity and he will move to London to lead the combined broking group.
From this October 1, RKH CEO Andy Bragoli will also lead a newly formed UK Broking Executive Committee, which will sit above RKH and Howden UK. Howden UK CEO Chris Evans, in addition to his role, will be Andy Bragoli’s deputy.
Hyperion X CEO Barnaby Rugge-Price will chair the committee, supported by Paul Redgate as deputy. Elliot Richardson will continue to lead Reinsurance.
Paul Redgate will also work with Mark Wood, after completion of Mark’s contractual obligations to Marsh/JLT, to lead the broking group’s global practices.
Mark Wood and Chris Evans will join Hyperion Insurance’s Group Executive Committee. RKH will transition to the Howden Specialty and Reinsurance brands over a period of 12 months.
José Manuel González will move to London as the CEO of the combined business
According to the company, the latest developments could help in delivering speciality expertise through the company’s international offices and network.
Hyperion Insurance Group CEO David Howden said: “In 25 years we have built a Group of global scale with employee ownership at its heart. Hyperion has more than doubled in size since RKH became a part of the Group. We have over 5,000 employees, operating out of more than 200 offices in 36 territories, managing circa $7bn GWP on behalf of clients.
“We have also launched our Howden One network which, when combined with our broking offices, now means over 15,000 people service clients in over 90 territories and manage around $23bn of premium.
“The combined broking group will be the leading independent, international specialty business. This offers a unique proposition to our US broker partners. We are the only broker with an international retail network and the necessary expertise to service our US broker partners’ clients, not competing with them in their own territory.”
Howden Broking Group CEO José Manuel González said: “Combining our two businesses will create a global, cohesive and efficient platform. It will present, with clarity and simplicity, a real alternative and independent solution for clients, insurers and talent.
“It will deliver on our combined bench strength, providing the best team to our clients. I am truly honoured and excited to be able to lead a group of such talented people.”