Singapore: Sterling Knight joins large employee-owned insurance group
Source: Asia Insurance Review | Sep 2017
Singapore M&A Brokers
Howden, the retail broking arm of Hyperion Insurance Group, has completed the acquisition of Sterling Knight, a leading specialist broker which is headquartered in Singapore.
Sterling Knight, which specialises in specie and international employee benefits and serves clients ranging from multinationals to SMEs, will continue to operate under its own licence and Dr Victor Adam and his management team will continue to lead the business.
Dr Adam, CEO of Sterling Knight Singapore, said: “Joining Howden is an important step for Sterling Knight and means we are now part of the world’s largest employee-owned insurance group. It gives us and our clients access to Howden’s extensive international reach, as well as the product and technical capabilities of the wider Hyperion Group, which include access to RKH’s Specialty and Reinsurance experts in the London market. Hyperion’s employee-owned and entrepreneurial culture combined with its reach is of huge benefit to our clients and makes Howden the natural home
Mr Goh Chye Huat, CEO of Howden Singapore, said: “Sterling Knight is a broker with a tremendous reputation for specialist expertise, professionalism and exceptional service and I am very pleased that they have chosen to join the Group. Alongside their market-leading Specie team, which will strengthen our existing capabilities in the region, their International Employee Benefits business will combine with ours to create a very strong proposition in Asia, further leveraging our recent partnership with CXA to extend access to their Flex technology, platform and expertise.”
Mr David Howden, CEO of Howden and Hyperion, said: “The acquisition represents another significant milestone for Howden as we implement our regional strategy to grow our Asia footprint.”
The acquisition has received regulatory approval from the MAS. A