6 April 2018Insurance

Hyperion acquires ACP in Turkey expansion

Howden, part of Hyperion Insurance Group, has entered into a definitive agreement to acquire a majority stake in Istanbul-based insurance broker ACP.

Howden has had a presence in Istanbul since 2012 and the acquisition brings increased reach with offices in Ankara, Bursa and Izmir, according to a company statement. The business will be part of Howden’s Turkey, Middle East and Africa (TMEA) region, which has 12 offices in 12 territories including Turkey, the UAE and Oman.

Founded in 1994, ACP operates in insurance and reinsurance with about 500 corporate and over 150,000 individual customers. The firm manages a risk portfolio in excess of $25 billion. ACP offers additional services for clients in risk, insurance policy management and post-policy period and works with international and Lloyd’s registered insurance and reinsurance brokers.

“This is a truly transformative transaction for Howden in Turkey and a key strategic milestone for us in the TMEA region,” said Hyperion CEO David Howden. “As a group we are committed to investing in high growth, dynamic economies such as Turkey. ACP’s strong expertise and excellent reputation in the local insurance market will significantly improve our offering to clients across the region,” Howden added.

Howden is the retail broking arm of Hyperion Insurance Group and provides a range of specialist insurance solutions to clients around the world. Hyperion’s businesses operate across Europe, Asia, the Middle East, Africa, Latin America, the USA, Australia and New Zealand, employing over 3,800 people in 38 countries.

Join us at Intelligent Automation in Insurance - April 26th 2018, London:  Book now.

More of today's news

Lloyd's expands in Africa with new Moroccan office

NFIP chief Wright leaves FEMA to head IBHS

Seven hurricanes expected in 2018 season

Chubb makes executive changes in North America as Butler retires

High costs weigh on London Market outlook

Markel reshuffles trade credit leadership

Tryg group CFO leaves to join Danske Bank

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

10 April 2018   RKH Specialty, part of the Hyperion Insurance Group, has appointed Stuart Beatty as the regional CEO for Asia Pacific, a new role focused on building on the firm’s specialty capabilities in the region.
17 May 2018   Intermediary Hyperion Insurance Group has appointed Mark Stephen as a non-executive director and chair of its audit committee.
4 June 2018   Howden, the retail broking arm of Hyperion Insurance Group, has appointed José Manuel González as the new CEO of Howden Broking Group.