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Hyperion merges its retail and specialist broking businesses

Hyperion merges its retail and specialist broking businesses | Insurance Business

Hyperion merges its retail and specialist broking businesses

Hyperion Insurance Group is bringing two of its businesses under one roof, announcing today the merger of its retail and specialist broking units. Effective October 01, 2019, Howden and RKH will be combined into one broking group led by one management team, with José Manuel González as CEO.

Over a 12-month period, RKH will transition to Howden’s specialty and reinsurance brands.

Andy Bragoli, in addition to his role as RKH CEO, will helm a newly-formed UK broking executive committee that will sit above RKH and Howden. Chris Evans, currently the CEO of Howden UK, will also take on the role of Bragoli’s deputy. Paul Redgate will lead the broking group’s global practice alongside Mark Wood.

The regional broking heads will be as follows:

  • Goh Chye Huat will continue to lead the Asian operations;
  • Louise Cable-Alexander will lead Northern Europe;
  • Sonia Caamaño and Pablo Bores will lead Latin America
  • Danny Sever will lead Mediterranean operations;
  • Atinc Yilmaz will continue to lead operations in Turkey, Middle East and Africa.

“In 25 years, we have built a group of global scale with employee ownership at its heart,” commented David Howden, CEO of Hyperion. “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 $7 billion 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 $23 billion of premium.”

He also explained that the combined broking group will offer a unique proposition to the company’s US broker partners, since it will be the only broker with an international retail network and the right expertise to serve those clients, while not competing with them in the territory.

“Combining our two businesses will create a global, cohesive, and efficient platform,” added González.