Lloyd’s managing agency works across 12 lines with £260m of capacity.

Hyperion Insurance Group has bought 9.9% of Apollo Partners from existing partners.

Apollo Partners is the holding company for Lloyd’s managing agency Apollo Syndicate Management Limited (ASML).

ASML manages Syndicate 1969 at Lloyd’s - a multi-line syndicate operating across 12 main classes of business.

Syndicate 1969 was established in 2009 and ASML was authorised as a stand-alone managing agency by Lloyd’s in 2015.

According to Hyperion, which itself sold a minority stake to Caisse de dépôt et placement du Québec for $400m (£298m) at the end of last year, ASML has grown its capacity to £260m.

Benefit
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, CEO of Apollo Partners added: “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.”

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