DUAL, Howden and RKH all contribute to solid growth at Hyperion

Hyperion Insurance Group, which owns MGA DUAL, retail broker Howden and specialty broker RKH, has reaped the rewards of strategic expansion plans plus solid organic growth to increase its revenues by 16 percent for the 12 months ending September 30, 2018.

The company posted revenues of £620 million in the period, an increase of 16 percent overall compared with the same period a year earlier, six percent of which was organic growth, and adjusted consolidated EBITDA of £181 million, an increase of 19 percent.

DUAL, the world’s biggest international MGA, posted revenues of £109 million, a 9 percent increase on the same period a year earlier; Howden, the world’s biggest independent retail broker, posted revenues of £282 million, a 33 percent increase; and RKH, the largest producer of business to Lloyd’s, posted revenues of £229 million, a 3 percent increase.

It said DUAL’s performance was following restructuring and solid performance in underwriting capacity; Howden’s growth was driven by acquisitions and organic growth; and RKH saw significant growth in a number of areas, in particular in its reinsurance business.

The company has had a busy 12 months. It completed an equity investment by Caisse de dépôt et placement du Québec (CDPQ); Hyperion launched Hyperion X to develop key areas of data, analytics and digital platform delivery; and Hyperion partnered with WNS (Holdings) to form the Hyperion Shared Service Centre. It has also started the consolidation of four London offices into a new international headquarters in London.

The Group made a number of investments across the units. In April 2018, the group expanded its retail broking operations in Turkey with its investment in insurance broker ACP to form Howden ACP; in May 2018, DUAL Italia expanded its operations with its acquisition of Synkronos Italia; and in June 2018 the Group expanded its retail broking operations in Asia with its investment in International Planning Group to form IPG Howden.

David Howden, CEO, Hyperion, commented: “As we enter our 25th year, we are in a very strong position to seize the opportunities that are being created both by consolidation of the market, the pressures on underwriting performance and the opportunities for transformation. Our employee-ownership model and our entrepreneurial approach means we have a flat and empowered structure which keeps a constant focus on our employees. This, in turn, promotes innovation, integrity and the agility to develop our specialist products and services and get them to our clients fast.”