Hyperion acquires specialist liability broker in North America

19th November 2007: Hyperion, one of the UK’s fastest growing independent insurance groups, today announced the acquisition of a specialist liability broker in Baltimore, Maryland, strengthening the Group’s foothold in North America. 

On behalf of its broking division, Howden, the Group has acquired a 100% shareholding of International Program Managers (IPM), a privately owned well established insurance broker focusing on financial products and specialty lines coverage, including the life sciences, technology and investment industries. 

The IPM management team will be remaining with the business, including the company’s founder Henry Gottesman who has over 30 years of experience in the insurance industry.  The company will now operate under the brand Howden IPM.

Commenting on this latest acquisition, Hyperion’s Chief Executive David Howden said: “We have ambitious plans for our retail and wholesale broking business in North America, which will see us undertaking further investment and recruitment.  The acquisition of IPM strengthens our international footprint and represents another step in what will be a significant development for our business in this region. 

“Its specialist focus on the life sciences market in particular will complement and strengthen the group’s existing operations in key markets such as UK, Israel and India, giving clients valuable direct access to North American markets.”

Henry Gottesman, founder of IPM, concludes: "Howden is an international organisation with strong market relationships and a depth of knowledge across a number of niche markets.  There is a natural synergy between our business focus and service ethics as we are both specialists in liability insurance and place great emphasis on finding solutions to our clients' insurance needs.  While we remain a specialty broker, becoming part of Howden and the Hyperion group allows us to access expertise and resources in other niche product lines.  The move represents a natural step forward to allow our business to grow and better serve our clients both in the U.S. and worldwide.