Group has access to £22m to spend on acquisitions
Private equity-backed insurance group Hyperion reported a 19% rise in operating income to £57.2m for the 12 months to 30 September 2009. Earnings before interest, taxes, depreciation and amortisation was up 7% year-on-year to £8.8m.
Hyperion chief executive David Howden said: “This is a great set of results, particularly in light of the fact that our growth in the past financial year was organic rather than through acquisition – our acquisition of Hendricks was not effective until October 2009.”
The group, which includes broking outfit Howden, saw its broking revenues leap 43% to £34.1m, thanks in part to the establishment of a North American property and casualty business, and growth in the Far East, Israel and Spain.
Meanwhile, combined gross written premium for group underwriting agencies DUAL International and CFC Underwriting reached £142m, up 35% on the previous year.
Howden added: “Following 3i’s investment in April 2008, the group still has £22m of committed funds available, which we are looking to spend on acquisitions.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
