Hyperion Insurance Group will combine its retail and specialist broking businesses, Howden and RKH, under one management team bringing together their international retail network along with specialty and reinsurance expertise respectively.
The merger will take effect from 1 October 2019 led by Mr José Manuel González as CEO who will move to the headquarters in London to lead the combined broking group.
Described as the world’s largest majority employee-owned insurance group, Hyperion comprises broking divisions Howden, RKH Specialty and RKH Reinsurance as well as underwriting division DUAL. Founded in 1994, the group has over 5,000 employees, operating out of over 200 offices in 36 territories and managing circa $7bn gross written premiums on behalf of clients.
RKH Specialty is the largest producer of direct premium to specialist insurance market Lloyd’ and a producer to many of the world’s largest specialist insurers. In Asia, it has offices in Beijing, Hong Kong, Singapore and Taipei.
Meanwhile, Howden provide insurance broking, risk management and claims consulting services globally with over $22bn of premium placed worldwide each year. The specialist broker has a significant presence in nine Asian countries including India, Indonesia and Thailand.
With the merger, the combined broking group will have a greater presence in the Asia region. Mr Goh Chye Huat will be heading Asian operations.