Hyperion completes acquisition of operations of South East Asia’s largest independent insurance broker
HYPERION INSURANCE GROUP LIMITED, the international insurance and reinsurance distribution group, is delighted to announce that its broking subsidiary, Howden Broking Group Limited, has completed the acquisition of the insurance operations of Accette Insurance Group (Accette) in Hong Kong, Singapore, Thailand, Malaysia, and the Philippines.
With the addition of Accette’s offices, the Howden Broking Group now has 14 offices in eight countries across Asia. The acquisition of Accette’s Indonesian operation remains subject to regulatory approval.
David Howden, Chief Executive of Hyperion Insurance Group Limited said: “Our expansion in emerging markets is a major part of our growth strategy, and this acquisition is an important step towards achieving our ambition for Howden Broking Group to become one of Asia Pacific’s leading insurance brokers.”
David Zuellig, Director of Zuellig Group, of which Accette Insurance Group was a part, will remain involved in the strategic development of Howden’s operations in Asia as non-executive Chairman of the broking group’s Asian holding company. He commented: “This is the beginning of an exciting new era for Accette. Now that we are a part of Howden Broking Group, our clients will have access both to a strong pan-regional broking platform and to a global network of operations with a great breadth and depth of expertise and products.”