HYPERION ANNOUNCES MERGER OF HOWDEN AND RKH
12 September 2019
Combined company will deliver seamless access to the Group's talent for clients and will bring together Howden's international retail network and RKH's best-in-class specialty and reinsurance expertise
Hyperion Insurance Group, the largest international insurance group with employee ownership at its heart, today announced that its retail and specialist broking businesses, Howden and RKH will combine under one management team, effective 1 October 2019 led by José Manuel González as CEO. José Manuel will move to London to lead the combined broking group.
In the UK, and effective 1 October 2019, Andy Bragoli, in addition to his role as CEO of RKH, will lead a newly formed UK Broking Executive Committee, which will sit above both RKH and Howden UK. Chris Evans, in addition to his role as CEO Howden UK, will be his deputy. Barnaby Rugge-Price, CEO of Hyperion X, will chair the committee, supported by Paul Redgate as deputy. Elliot Richardson will continue to lead Reinsurance.
Paul Redgate will also work with Mark Wood, following the completion of Mark’s contractual obligations to Marsh/JLT, to lead the Broking Group’s Global Practices. The development of these Practices will drive the delivery of specialty expertise through the Group’s international offices and network.
Mark Wood and Chris Evans will both join Hyperion’s Group Executive Committee. Over a period of 12 months, RKH will transition to the Howden Specialty and Reinsurance brands.
At the same time and reflecting the increased breadth and depth of the Group and the combined management bench strength, the following regional broking heads will be in place effective 1 October 2019:
- Andy Bragoli will lead the UK;
- Goh Chye Huat will continue to lead our Asian operations;
- Louise Cable-Alexander will lead Northern Europe;
- Sonia Caamaño and Pablo Bores will lead Latin America;
- Danny Sever will lead our Mediterranean operations; and
- Atinc Yilmaz will continue to lead our operations in Turkey, Middle East and Africa.
David Howden, CEO, Hyperion Insurance Group commented: “In 25 years we have built a Group of global scale with employee ownership at its heart. Hyperion has more than doubled in size since RKH became a part of the Group. We have over 5,000 employees, operating out of more than 200 offices in 36 territories, managing circa $7bn GWP on behalf of clients. We have also launched our Howden One network which, when combined with our broking offices, now means over 15,000 people service clients in over 90 territories and manage around $23bn of premium.
The combined broking group will be the leading independent, international specialty business. This offers a unique proposition to our US broker partners. We are the only broker with an international retail network and the necessary expertise to service our US broker partners’ clients, not competing with them in their own territory.
As we celebrate 25 years of independence, I believe the future belongs to those companies who put their clients and employees first. This merger provides the best possible international platform for our people to deliver results for our clients. Our business has always been about growing talent, and José Manuel perfectly embodies that entrepreneurial spirit and diverse nature of our talent.”
José Manuel González, CEO, Howden Broking Group added: “Combining our two businesses will create a global, cohesive and efficient platform. It will present, with clarity and simplicity, a real alternative and independent solution for clients, insurers and talent. It will deliver on our combined bench strength, providing the best team to our clients. I am truly honoured and excited to be able to lead a group of such talented people.”
Andy Bragoli, CEO, RKH Specialty said: “We are always looking to advance our client proposition; our clients expect us to stay ahead in competitive environments. This is simply the next step for us. Our commitment to all our clients, first and foremost, is to provide them with both specialist expertise and global servicing capabilities through our own Howden network. Our commitment not to be a US retail broker remains unchanged and, in this, we are truly unique.”
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