Hyperion acquires minority stake in Apollo Partners LLP

Hyperion Insurance Group has acquired a 9.9% share in Apollo Partners LLP from existing partners. Apollo Partners LLP is the holding entity for Apollo Syndicate Management Limited (ASML), a Lloyd’s Managing Agency.

ASML manages Syndicate 1969 at Lloyd’s which is a multi-line syndicate operating across 12 main classes of business. For the 2018 underwriting year ASML has also established a reinsurance Special Purpose Arrangement 6133 (the “SPA”) which focuses on Property Treaty lines.

Syndicate 1969 was established in 2009 and ASML was authorised as a stand-alone Managing Agency by Lloyd’s in 2015. Capacity managed by ASML has grown from £160m in Syndicate 1969 for the 2015 underwriting year to £260m across Syndicate 1969 and the SPA combined for the 2018 underwriting year.

David Howden, CEO of Hyperion Insurance Group, 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 Apollo Partners LLP said: “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.”