Business
Hyperion partners with 3i
Hyperion partners with 3i.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n B.P. Marsh & Partners PLC\n02 April 2008\n\nDate: 2nd April 2008\nOn behalf of: B.P. Marsh & Partners Plc ('B. P. Marsh' or the 'Company')\nEmbargoed until 0905hrs\n\n\n\nB.P. Marsh & Partners Plc\n\n\n\nHyperion partners with 3i\n\nB. P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to\nearly stage financial services businesses, today announces that 3i, a world\nleader in private equity, has completed a £50m equity investment for a minority\nshareholding in the Hyperion Insurance Group ('Hyperion'), a leading\ninternational insurance group specialising in wholesale, retail and reinsurance\nbroking, and underwriting. B. P. Marsh first invested in Hyperion Insurance\nGroup in 1994 and will retain a shareholding of approximately 20%.\n\n3i will support Hyperion as it enters its next phase of growth - expanding both\nthe range of products it provides and the territories in which it operates.\n\nHyperion was founded in the UK in 1994 and has grown from initially specialising\nin Professional Indemnity (PI) and Directors' and Officers' Liability (D&O) to\nbeing a leading global provider of a range of specialist insurances through its\nsubsidiaries: Howden, DUAL and CFC. Hyperion now services its clients through\nits operations across Europe and Scandinavia, the Middle East, Asia, the\nAmericas and Australia and transacts business in over 50 countries around the\nworld. The Group has achieved an annual compound growth rate of approximately\n40% per annum since its inception.\n\nCommenting on the transaction, Brian Marsh OBE, B.P. Marsh's Chairman, said: 'We\nvery much welcome this news for Hyperion. We are pleased to be associated with\nsuch an outstanding success story and we see this as a major step forward in\nHyperion's continued growth and development.'\n\n\n\nDavid Howden, Chief Executive of Hyperion, said today of the transaction: 'In\nchoosing 3i as our partner, it was important to us that they embraced the\nentrepreneurial spirit of our group and shared our ambition to build a\nworld-beating specialist insurance business. I believe they will enhance our\nentrepreneurial flair and ability so we will continue to attract and retain the\nvery best people.\n\n'3i's long established brand, global network and considerable management\nexpertise, combined with its financial strength, will he...