London-headquartered Hyperion Insurance Group has acquired a 9.9% share in Apollo Partners LLP, via the company’s existing partners.
The deal sees Hyperion claim a minority stake in the holding company of Lloyd’s MGA, Apollo Syndicate Management Limited (ASML).
ASML has managed Syndicate 1969, a multi-line syndicate operating across 12 main classes of business, for four years. According to Hyperion, ASML has increased its capacity to £260 million.
Commenting on the benefits this deal will have on Hyperion, Chief Executive Officer (CEO), David Howden, said, “The Hyperion Group is invariably intertwined with the Lloyd’s market at various levels including our broking and underwriting operations. This opportunity to invest in a respected Managing Agency allows us to benefit from Apollo’s insights and knowledge.”
“David Ibeson’s contribution at DUAL has already been invaluable and we are looking forward to a closer working relationship with him and Apollo.”
David Ibeson, CEO of Apollo Partners LLP, added, “We are delighted to have a closer relationship with the Hyperion Group. As a non-executive Director of DUAL, I know we share the same values and client-centric approach. The partnership will be enhanced as a result of this relationship and we are all excited about the future opportunities it will bring.”