UK-based Hyperion Insurance Group has revealed plans to merge its broking businesses – Howden and RKH -to bring retail and specialist broking expertise under one roof.
The merged entity will start providing access to the group’s talent for clients starting 1 October, the company said.
The combined business will be headed by newly appointed CEO José Manuel González. He will relocate to London to spearhead the combined broking group.
Hyperion Insurance further said that RKH will operate under Howden Specialty and Reinsurance brand over the next one year.
The merging of the two broking operations will result elimination of the RKH brand.
As part of business transformation process, Andy Bragoli, the existing CEO of RKH, will head a newly formed UK Broking Executive Committee along with his current role.
Besides his role as CEO of Howden UK, Chris Evans will be act as Bragoli deputy. Hyperion X CEO Barnaby Rugge-Price will chair the committee and will be supported by Paul Redgate as deputy.
Elliot Richardson will continue to manage reinsurance.
After Mark Wood’s contractual obligations to Marsh/JLT is finished, Paul Redgate will also collaborate with Wood, to lead the broking group’s global practices.
These changes will bring specialty expertise via the group’s global offices and network, Hyperion said in a statement.
Additionally, Mark Wood and Chris Evans will join Hyperion’s group executive committee.
Howden Broking Group CEO José Manuel González said: “Combining our two businesses will create a global, cohesive and efficient platform. It will present, with clarity and simplicity, a real alternative and independent solution for clients, insurers and talent.
“It will deliver on our combined bench strength, providing the best team to our clients. I am truly honoured and excited to be able to lead a group of such talented people.”