Hyperion Insurance Group – Everything you need to know
About Hyperion Insurance Group
Hyperion is an international insurance intermediary group with insurance broking and underwriting companies under its umbrella. Its key brands include global underwriting agency DUAL, global retail broker Howden, specialty lines broker RKH Specialty, and RKH Reinsurance.
Through these companies, Hyperion offers wholesale, retail and reinsurance broking, and underwriting services.
History of Hyperion Insurance Group
Hyperion has developed from a three-person wholesale start-up founded in 1994 to an international group with a compound annual growth rate of 35%.
In 2017, institutional investor Caisse de dépôt et placement du Québec (CDPQ) agreed to acquire a significant minority stake in Hyperion Insurance Group. A release revealed that CDPQ would invest over US$400 million to provide the group with new growth equity and liquidity to existing shareholders. The investment also allowed CDPQ to join Hyperion as a “long-term growth partner” alongside General Atlantic (GA).
Then in 2018, Hyperion entered into a global shared services partnership with business process management (BPM) services provider WNS (Holdings) Limited. The deal saw the opening of the Hyperion Shared Services Centre in India, which would serve as Hyperion’s scalable operational platform amid further growth. The centre, based in Pune, provides services and processing requirements such as data cleansing, underwriting data entry, and London Market processing for DUAL and Howden UK.
In 2020, Hyperion will merge its two major broking businesses into one, with them operating under the Howden brand starting from October 01, 2020. When Hyperion’s broking business is linked up with Howden One (Hyperion’s global broking network), the full power of the broking network will be realised as it will then cover over 90 territories with 15,000 people.
Leadership at Hyperion Insurance Group
David Howden – CEO
Howden began his career as a broker at Alexander Howden in 1981. He founded Hyperion in 1994 as a wholesale broker. He has since become the driving force behind the group’s growth into an international insurance company. As CEO, Howden is focused on directing the group’s M&A activities and implementing its strategic growth strategy.
Culture at Hyperion Insurance Group
Established in 2014, the Hyperion Foundation is a registered charity in England and Wales, and helps to ensure all the group’s CSR activity and donations are aligned with six key objectives, including relief of sickness, poverty, disasters, and unemployment, as well as advancement of education and environmental sustainability.
Hyperion employees are involved in selecting the charities and local organisations supported by the group. The foundation also supports an employee giving program by matching up to £750 of fundraising per employee each year.
In 2018, Hyperion unveiled a new group charity initiative called Million for a Million, the aim of which is to raise US$1 million by encouraging employees and key business partners to take part in fundraising events and challenges in support of the Black Dog Institute, Cancer Research UK, InteRed, and Plastic Oceans. Additionally, Hyperion has supported 33 more charities through Million for a Million initiatives around the world.