Hyperion grows in Asia through broking arm Howden
Hyperion's broking subsidiary, Howden, has agreed a deal to buy Singapore-based broker Accette Insurance Group.
Acette, which also has a presence in Hong Kong, Indonesia, Malaysia, Philippines and Thailand, will boost Howden's existing business in Asia.
Hyperion chief executive David Howden said: “Having recently secured a reinsurance licence in Singapore and with our offices in South Korea, Taiwan and Hong Kong, as well as a fast-growing retail business in India, this acquisition is key to developing the group’s global retail capacity.
"With a complementary culture, and having built up a relationship with Accette spanning more than 10 years, this is an exciting development in the growth of our companies whose focus is to continue to offer its’ clients a first class service.”
Accette chairman David Zuellig added: “We have for many years served our customers in Asia as an independent insurance broker. It is fitting therefore for us to be talking to a growing international independent broker.
"With increased globalisation of the insurance business and the need to serve our clients in other countries with an expanded range of products and expertise the time had come for us to be part of an international broking group.”
The acquisition remains subject to regulatory approval and contract.
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