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.
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