Hyperion Insurance Group is to merge its two major broking entities into a single operating unit as it said the combined entity will deliver greater benefit to its clients.
The group’s retail and specialist broking businesses, Howden and RKH will combine under one management team with effect from1 October 2019. Over the next 12 months RKH will also transition to the Howden Specialty and Reinsurance brands
The combined operation will be led by José Manuel González as CEO. It will also come with a new management structure. Current CEO of RKH Andy Bragoli, will also 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. Elliot Richardson will continue to lead Reinsurance.
Mr Redgate will also work with Mark Wood, following the completion of his 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.
David Howden, (pic) CEO, Hyperion Insurance Group commented: “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 $7 billion 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 $23 billion of premium.”
He added: “The combined broking group will be the leading independent, international specialty business.
“I believe the future belongs to those companies who put their clients and employees first. This merger provides the best possible international platform for our people to deliver results for our clients.”
José Manuel González, CEO, 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.”