3i backed Hyperion 2011 results show 21% rise in revenues
Hyperion Insurance Group Limited ("Hyperion"), an international insurance intermediary group with 52 offices in 28 countries around the world, is pleased to report its financial results for the year end 30 September 2011.
2011 Financial Highlights
- Total revenue up 21% to £87million, continuing the Group#s track record over the past ten years of a compound annual growth rate of more than 30%
- Organic revenue up 18%
- EBITDA (excluding non-recurring and acquisition costs) up 45% to £18 million
2011 Operational Highlights
- Hyperion completed the acquisition of Accette Insurance Group in Singapore, Hong Kong, Malaysia, Thailand and The Philippines
- Hyperion acquired the broking activity of Davidoff Insurance Brokers in Israel, allowing Howden to provide clients with a broader range of product solutions, and making our already strong operation one of the top five non-life insurance brokers in Israel
- Hyperion acquired the broking activity of PYV Ltd in the UK, making Howden Insurance Brokers one of the leading providers of Professional Indemnity solutions to Independent Financial Advisors, and bringing a Solicitors Professional Indemnity capability to the team
- DUAL launched Tamesis DUAL, specialty excess of loss reinsurance business supported with capacity from Lloyd's of London
- DUAL opened an office in Auckland, New Zealand
- Howden Specialty Underwriters, Miami opened for business
- Hyperion was listed in the top 20 in the Insurance Times annual Top 50 Brokers published in September 2011, and reached 5th position in the Post Magazine's Top 25 EC3 Brokers published in October 2011. Howden Broking Group was named Insurance Broker of the Year at the British Insurance Awards.
Commenting on the Group's results, David Howden, CEO of Hyperion, said:
"To achieve 18% organic growth is a reflection of the success of our strategy, our diversified business model and our ability to attract the very best people. Following the achievement of all our strategic objectives in 2011 we are well placed to take advantage of market opportunities around the world and deliver another outstanding year of growth in 2012."