Hyperion Insurance Group Limited (Hyperion) and R K Harrison Holdings Limited (RKH) are pleased to announce the completion of the merger of the two businesses, following receipt of applicable regulatory and legal approvals.
Hyperion has now acquired 100% of the share capital of RKH. Hyperion has now become the parent company of the combined Group, with David Howden continuing as CEO. Dominic Collins has been appointed Executive Chairman of Hyperion.
The newly combined business provides clients with a viable, independent alternative, whilst sustaining an entrepreneurial culture and bespoke ethos that is unique in the insurance industry. Following the merger, Hyperion combines superior speciality lines expertise with extensive geographical reach, providing clients with the pre-eminent international and UK retail distribution network outside of North America; a leading independent speciality lines insurance and reinsurance broker; and the only global specialist MGA group.
David Howden, Chief Executive Officer of Hyperion, said: “I am immensely proud to announce the completion of this merger, which represents a game changing step for Hyperion’s 21st year. We are truly coming of age and it is quite remarkable to think that since forming Hyperion in 1994 with just 3 people we will now be the world’s largest employee-owned insurance and reinsurance intermediary group with over 3,000 staff. We now go to market as one, and I believe our combination of scale, reach and specialism, underpinned by our majority employee ownership, offers a genuinely unique proposition. We have a fantastic platform from which we can grow, and this is supported by an entrepreneurial culture which makes us the home for the industry’s brightest talent.”
Dominic Collins, Executive Chairman of Hyperion, added: "I am delighted that we can today announce that the merger of Hyperion and RKH has successfully completed. I believe that this is a transformational moment for us, bringing together two great companies and creating a significantly enhanced platform. This will further drive innovation and growth across our balanced mix of retail, specialty and underwriting capabilities and in turn enable us to better serve our clients around the world. The market remains highly competitive, but also offers significant opportunity. I believe we have created an outstanding platform from which to capitalise on this.”