Hyperion Insurance Group subsidiary Howden Broking Group has singed an agreement to acquire Singapore-based Accette Insurance Group.

Accette is an independent insurance broker with offices in Hong Kong, Indonesia, Malaysia, Philippines and Thailand.

Accette is part of the Zuellig Group which is a privately owned multi-national company that owns and manages a portfolio of businesses across the Asia Region, employing more than 10,000 people.

Hyperion chief executive David Howden said that having recently secured a reinsurance license in Singapore and with offices in South Korea, Taiwan and Hong Kong, as well as a fast-growing retail business in India, this acquisition is key to developing the group’s global retail capacity.

“With a complementary culture, and having built up a relationship with Accette spanning more than 10 years, this is an exciting development in the growth of our companies whose focus is to continue to offer its’ clients a first class service,” Howden said.

However, the acquisition remains subject to regulatory approval and contract.