Hyperion Insurance, the employee-owned insurance group, has announced Philip Bilney has stepped down from his role of group chief executive of its subsidiary FP Marine Risks.
Bilney has spent the last 20 years guiding Hyp FP Marine Risks towards its position in the marine insurance market in Asia.
Hyperion acquired a majority stake in FP Marine Risks in February 2013.
Richard Walker, currently regional managing director, Asia at FP Marine Risks, has been appointed as chief executive officer (CEO).
Walker joined the company in 2014 after the company he founded in 2005, specialist marine broker Risk Exchange, was acquired by FP. Prior to that, he spent 22 years in Hong Kong as the chief executive of Heath Lambert’s operations in Asia.
Bilney said: “FP Marine Risks is a quite unique company, which has changed the face of the Asian marine insurance market. I have every confidence that this team of highly talented individuals will continue to go from strength to strength, and I wish my many friends in the company the greatest success in the future."
David Howden, CEO of Hyperion Insurance Group, added: “FP Marine is a key part of Hyperion’s expansion into Asia, where most recently the Group acquired a 49 percent stake in CIMB Insurance Brokers in Malaysia and appointed Goh Chye Huat as CEO of Howden retail broking operations in Asia.
“Our retail broking, specialty and reinsurance broking, and underwriting operations in Asia Pacific now comprise more than 650 employees across 23 offices.”
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Hyperion Insurance, Marine insurance, Philip Bilney, Appointment, Group CEO, FP Marine Risks, Richard Walker, David Howden, London, UK, Asia-Pacific