Hyperion delivers strong growth during hectic 12 months
Hyperion Insurance Group enjoyed solid growth an increased profits in its annual results for the 12-month period ending September 2017, which it said was due to investment in people, operations and technology, and despite challenging market conditions.
The broker’s revenues increase by 20 percent to £535 million compared with the same 12 month period the year before; its EBITDA increased by 24 percent to £152 million in 2017.
The results came on the back of a hectic period for the company. It launched Howden One, its international retail broking network; RKH built out its international infrastructure which saw marine broking specialist, FP Marine, and wholesale broker, Howden Miami, transferred into RKH Specialty; and DUAL formed a regional management board.
In addition to these, it made a number of acquisitions including buying automotive, ports and logistics specialist Bergé y Asociados Correduría de Seguros; Singapore-headquartered Sterling Knight; taking a majority stake in Omani broker New Generation Insurance Services; and a majority interest in top five Mexican broker, Grupo Ordás.
David Howden, chief executive officer, said: “2017 was another milestone year for us as we passed the £500m revenue mark and launched our international retail broking network, Howden One. The impressive results delivered by each of our businesses contributed to the Group once again achieving market-leading organic growth and a strong profit margin, both critical factors in our long-term success.
“Our employee-ownership model continues to attract and retain talented individuals, and to sustain the entrepreneurial culture, that make our group unique. Following the completion of our fourth employee share offer, more than 20% of employees now own shares in Hyperion and its subsidiaries.
“The value of our business was reinforced by our ability to attract another leading investment partner in Caisse de dépôt et placement du Québec (CDPQ). CDPQ’s investment, and additional funds from our debt refinancing, will provide us with significant additional capital to fund future growth.
“In an ever-changing market, we recognise that we must be at the forefront of innovation using data and technology to enable the efficient and effective distribution of the right products to our clients at the right price. Our investment in technology-led initiatives will be a key focus in the coming year.”
Dominic Collins, chairman, said: “The combined efforts of all of our businesses have resulted in another year of strong financial performance. I extend my sincere thanks to each of the 3,800 employees involved in this achievement. We enter 2018 with a new high-quality, long-term investor in CDPQ to join us, alongside General Atlantic, on our next phase of growth.”
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