Hyperion merges retail and specialist broking businesses

Hyperion Insurance Group is to merge its retail and specialist broking businesses under one management team from 1 October 2019. The retail business, Howden, and the specialist broking businesses, RKH, will be led by CEO José Manuel González who will move to London to lead the combined broking group. During a period of 12 months, RKH will transition to the Howden specialty and reinsurance brands. According to Hyperion, the combined company “will deliver seamless access to the group's talent for clients and will bring together Howden's international retail network and RKH's best-in-class specialty and reinsurance expertise”. In the UK, Andy Bragoli, in addition to his role as CEO of RKH, will lead a newly formed UK broking executive committee, which will sit above both RKH and Howden UK. Chris Evans, in addition to his role as CEO Howden UK, will be his deputy. Barnaby Rugge-Price, CEO of Hyperion X, will chair the committee, supported by Paul Redgate as deputy, while Elliot Richardson will continue to lead reinsurance. All of these changes are effective from 1 October 2019. Mr Redgate will also work with Mark Wood, following the completion of Mr Wood’s contractual obligations to Marsh/JLT, to lead the broking group’s global practices. Mr Wood and Mr Evans will both join Hyperion’s group executive committee. The group also announced the following regional broking heads (effective 1 October 2019): Andy Bragoli will lead the UK Goh Chye Huat will continue to lead 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 the group’s operations in Turkey, the Middle East and Africa. David Howden, CEO of Hyperion Insurance Group, 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.” He added: “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.” José Manuel González, CEO of Howden broking group, added: “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.”

Hyperion merges retail and specialist broking businesses

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