Hyperion has acquired Coselusan Correduria de Seguros SL (Coselusan), an insurance broker based in Barcelona, Spain.
Hyperion said the Spanish broker will complement its existing Spanish operation based in Madrid, and further consolidate the group's presence in Spain.
The Coselusan management team will be remaining with the business.
Hyperion's chief executive David Howden said: “Spain's economic growth has outpaced the European average for nearly ten years.
"Recent studies show that the Spanish commercial liability market is one of the least developed in the EU, and we see tremendous opportunities for companies such as ours with the expertise and agility to move quickly to respond to this market's ever changing needs.”
Tim Coles, CEO of Howden added: “Coselusan has developed a strong presence in the Spanish insurance market for professional liability insurance for audit and accounting firms.
"We have ambitious plans for our retail broking business in Spain, which will see us undertaking further investment and recruitment. The acquisition of Coselusan strengthens our footprint in Spain and represents the first step in what will be a significant development for our business in this region.”
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