UK - BP Marsh investee firm floats on AIM

Hyperion Insurance Group Ltd, one of BP Marsh’s investee companies, has successfully completed an equity placing which raised £5.1m of new capital to fund its ongoing growth plan. In the admission document issued by BP Marsh on 2 February 2006, the fair market value of BP Marsh's holding in Hyperion, as at 31 July 2005, is shown as £8,080,440.

BP Marsh, which exercised its pre-emption rights, participated in the placing by way of the capitalisation of part of a loan (£1,429,661) which was due to be repaid by Hyperion and maintains its shareholding in Hyperion at 27.9%. Murofo Investments SLU, a Spanish investment company, becomes a new shareholder in Hyperion taking a 14% stake. In addition, Luis Muñoz-Rojas, director of Murofo, joins the Hyperion board.

Hyperion is one of the UK’s fastest growing independent insurance groups and yesterday announced the doubling of its profits by 94% to £4.03m. Hyperion intends to continue its record of organic growth through establishing start up operations in new territories as well as actively seeking suitable business operations to add to its group. Hyperion believes this additional equity will provide sufficient finance for the group's immediate plans.

The Marsh Group first invested in Hyperion Insurance Group in 1994. The Hyperion Insurance Group owns, amongst other things, Howden, a registered Lloyd’s insurance broker specialising in business critical risks including directors’ and officers’ and professional indemnity insurance. In 1998, Hyperion set up Dual International, an insurance managing general agency specialising in developing D&O and PI business in Europe. In 2000, Hyperion established CFC Underwriting, a niche underwriting agency specialising in cyber-liability and technology risks.

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