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Member, Beacon International Group, Ltd.
London-based brokerage and underwriter Hyperion Insurance Group Ltd. and a Hong-Kong-based marine insurance brokerage have entered into a partnership.
Hyperion announced Monday that it had taken a 55% stake in FP Group, which was the first Asian-headquartered broker to be licensed as a Lloyd's of London broker.
“I am extremely pleased that FP is becoming a part of Hyperion,” said David Howden, CEO of Hyperion. “By joining together we can give FP's clients access to our global distribution network and broader product capabilities and our clients access to FP's specialist knowledge,” he said.
He described the move as another part of the company's expansion into Asia.
Philip Bilney, group chief executive of FP, said that the partnership “provides us with the rocket fuel to expand and develop in a way we never could have managed on our own, accelerating our expansion.”
--Sarah Veysey