Broking group Hyperion gets new investment as part of partnership
Hyperion has formed a partnership with German broker Euroassekuranz, under which Euroassekuranz’s chief executive become a “significant shareholder” in Hyperion.
Under the partnership, Hyperion will invest in Euroassekuranz and the German broker’s chief executive Helmuth Newin will invest in Hyperion.
The sizes of the stakes were not disclosed and the transaction is subject to regulatory approval.
Hyperion is 30% owned by US private equity firm General Atlantic, and Hyperion employees own more than 60%.
Hyperion said the deal would connect the financial lines and marine specialisms of its Howden broking unit with Euroassekuranz’s specialisms in industrial, commercial and real estate, as well as giving Euroassekuranz clients access to the resources and expertise within the wider international Howden and Hyperion groups.
Hyperion chief executive David Howden (pictured) said: “I am delighted that our clients will now have access to the expertise of Helmuth Newin and his team.
“Euroassekuranz has a strong reputation for superior, bespoke client relationship management in its specialist sectors and, combined with our market-leading Financial Lines expertise and Marine capabilities, I believe we can offer all our clients a differentiated and enhanced service.
“Germany is a key market for Hyperion and I am confident that we have significant opportunities to serve existing and new clients better together.”
Newin added: “Working in partnership with the Hyperion Insurance Group will allow us to deliver a new dimension of specialist expertise and service to our valued clients. It also presents excellent opportunities for our employees and will help us to continue to attract high quality talent in the German market.”