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Howden Group Holdings recognised for outstanding CSR programme at Corporate Engagement Awards

Howden Group Holdings recognised for outstanding CSR programme at Corporate Engagement Awards

We are proud to share the news that Howden Group Holdings were awarded ‘Best engagement of an internal audience in a CSR programme’ at the 2020 Corporate Engagement Awards for our Million for a Million campaign which raised over $1.5m dollars for Cancer Research UK, Black Dog Institute, Plastic Oceans and InteRed.  Our Million for a Million campaign also took home the silvery trophy for Most Effective One-Off Campaign

Million for a Million (M4M) formed part of our 25th anniversary celebrations and set out to raise US$1 million for four key global partners covering four key objectives: physical health, mental health, poverty reduction and environmental sustainability.   Fundraising activities reflected who we are as a group; inclusive, daring and creative, harnessing our passion, energy and team spirit to accomplish the unimaginable and have fun along the way!

Over the space of one year, our people organised and took part in 190 events, with over 5,000 participants across 20 countries. Sporting challenges proved popular with many hikes, marathons, bike rides and triathlons organise but there was also room for more cerebral, artistic and culinary pursuits such as comedy nights, concerts, quizzes, escape rooms, lunch and learns, open mic nights, craft fairs and of course, lots of baking!

Highlights of M4M include:

  • Hyperion Atlantic Challenge: Howden Specialty’s Alex Simpson and his friend rowed across the Atlantic and broke two world records – the fastest two-person crew to row across the Atlantic Ocean and the youngest person to row across three oceans
  • Rain to Spain: 16 cyclists travelled from London to Barcelona on a 10-day, 1,413km ride. Together they raised an incredible $150,000
  • Mt Chimborazo Expedition: Nine colleagues climbed the 6,263m inactive volcano – the closest point on Earth to space!
  • Odelia Sever Concerts: Odelia is a world-renowned concert pianist and held concerts around the world to raise funds for M4M
  • Head shaves: Two of our CEOs shaved off their hair while raising funds for and awareness of our charity partners. Our Group CEO, David Howden, raised over $200,000 for M4M
  • Camino de Santiago: Employees from across our business completed 66km of the pilgrimage of Santiago de Compostela
  • Singapore Amazing Race: Raising US$50,000, this event saw 16 teams of insurers and other partners compete to be crowned ‘The Most Amazing Team’ in the Singapore insurance market

Winning these awards is fantastic news, not just because it recognises the amazing achievements of our people and the incredible amount of money and awareness raised for good causes but on a deeper level for us as a Group. Million for Million was the first time each of the companies that make up Howden Group Holdings worked together on one single fundraising goal and gave us a taste of what we can achieve when we collaborate and combine our talent, resources and determination; something we intend to replicate in our business life following our recent merger.

About the Corporate Engagement Awards

The Corporate Engagement Awards was launched in 2011 by Communicate magazine. The awards programme has grown to be the benchmark for collaborations that have excelled and push the boundaries.

You can read more about the other winners here.

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Howden wins Broker of the Year 2020

Howden wins Broker of the Year 2020

Dear colleagues, clients and partners,

We are thrilled to have won Broker of the Year 2020 at the annual Insurance Insider Honours.

The Insurance Insider Honours are industry renowned international (re)insurance awards that recognise market talent and achievement. This year judges chose Howden out of a formidable shortlist of brokers that included Acrisure, Aon’s Reinsurance Solutions, McGill and Partners, and TigerRisk Partners. Congratulations to all the nominees, and thank you to the Insider who arranged a fantastic evening online. We are proud to be in such a great industry and one that retains such a relevant role in the world.

I am immensely proud of this award, especially receiving it in 2020. It has been a year like no other for everyone and this win is testament to the resilience of our business and the strength we have in our teams across Howden.

This award is for each one our 4,500 employees that make up the Howden world. We have always backed our people to deliver for clients, and I am grateful to our brokers who have continued to go over and above this year, and our central functions who have excelled at keeping the business running as usual in the most unusual times.

We are at a very exciting point in our journey and confident that this is just the beginning of our next phase of growth. We welcome a new financial year, not only as Insider’s Broker of the Year, but proudly as the home where entrepreneurial talent continues to thrive. We remain focused on embracing change for the benefit of clients, whilst continuing to build a business committed to expertise, independence, equity in the hands of employees, and above all, friendship and trust.

We look forward to sharing the next chapter with you all.

José Manuel González

CEO, Howden Broking Group

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Cargo policy implications for the MV Nave Andromeda hijacking

Policy implications for the MV Nave

The MV Nave Andromeda is a 9-year old, Liberian flagged Crude Oil tanker capable of carrying approximately 500.000 barrels of crude oil. On her way from Lagos Nigeria to Southampton, UK, a number of stowaways threatened her crew and hijacked the vessel as it was off the coast of the Isle of Wight. After a 24hrs standoff the crisis was resolved on Sunday night when Special Forces intervened and arrested the hijackers.

Whilst details are still somewhat scarce and a number of specific questions remain unanswered in this case (did the crew retain operational control of the vessel at all times, what was the amount of cargo on board still being carried etc.)  and with  the immediate crisis having passed, it makes interesting speculation what an alternative scenario could have been and how such a situation would interact with typical marine cargo insurance covers.

Even though purely conjecture, in this note we briefly examine the possible impact thereof and highlight a number of considerations in case a more sinister turn of event would have played out.

Our insights are focused on a number of relevant clauses typically features in cargo covers, with an additional emphasis on oil-related products.

1.    Piracy

  1. Under international law piracy is defined as any illegal act involving robbery, violence or detention for private ends of a ship and committed on the high seas
  2. In modern times, piracy most often involves a demand for ransom payments, instead of merely hijacking cargoes.
  3. Under the most commonly used Institute Cargo Clauses A (ICCA), ‘All Risks’, coverage is provided against loss or damage of cargo resulting from piracy. Interestingly however, piracy is not listed in the area of coverage of Institute Cargo Clauses B and C (ICC (B)/ ICC(C)).
  4. Also noteworthy is that cargoes will need to be physically lost, stolen or damaged for cargo covers to respond under this section, instead of merely hijacked

2.    Terrorism

If a similar incident would have been caused by parties acting with very different intent, there could be cause for a terrorism trigger under the policy, albeit not under the standard ICC (A) provisions:

  1. ICC (A) ordinarily does not cover risks of terrorism for goods afloat when such acts are committed by anyone acting from a political, ideological or religious motive, or connected to any organisation which carries out activities aimed at overthrowing or influencing any government, by force or violence.
  2. For these perils to be insured against however, one will need to ensure additional protection is afforded by means of the so-called Institute Strikes Clauses (Cargo)
  3. This extension is usually provided for under most cargo cover, and is also to be read in conjunction with the provisions of the ‘Termination of Transit Cover (Terrorism), which limits the duration of such terrorism protection.

 

3.    General Average

  1. In past cases involving pirates not hijacking so much the goods on board but instead merely holding the ship, its cargo and its crew as hostages for ransom, shipping companies have resorted to General Average provisions under cargo policies to seek remedies from their insurers.
  2. In such instances, reimbursement of the ransom monies paid to hijackers for release of the shipping interest was recouped from all parties concerned, including cargo owners, in the shape of GA contributions claimed by Ship Owners.

4.    Non-delivery/ Abandonment

  1. Seizure of good does not automatically render a cargo an actual total loss as long as there is no irretrievable deprivation: vessel and cargo will likely be fully recovered once the ransom monies have been paid.
  2. In exceptional circumstances however, some cargo covers can contain specific provisions for non-delivery or missing cargoes which could result in settlement for actual or constructive total loss.
  3. Non-delivery entitles a cargo owner to claim for the value of the goods after a certain period of time, as if the goods have effectively been considered lost once a pre-determined period of time has been exhausted.
  4. Similarly, some cargo policies will give the assured the right to ‘abandon’ goods to insurers, who would be compelled to settle the loss in full once a number of specific conditions have been met.
  5. It is important to stress that such policy provisions are invariably highly bespoke, time-limited and very conditional. The abandonment provisions most typically also contain piracy-specific exclusions.

5.    Oil Pollution

In the case of the Nave Andromeda, the nature of the cargo on board justifies shedding some light on pollution coverage components under a standard marine cargo cover:

  1. Costs of removal and/or destruction of damaged cargoes following an order from a Public Authority  can be covered under cargo covers
  2. Clean-up expenses and debris-removal are also expenses recoverable under most cargo cover , usually subject to certain insured limits
  3. Expenses reasonably incurred to preserve cargo and minimise losses fall under the so-called ‘sue and labour’ provisions which can generally be recovered

6.    Other insurance

Hijacking situations involving ships at sea will typically involve other types of insurance in addition to marine cargo only, including but not limited to :

  1. Hull & Machinery War covers, designed to protect Ship Owners interests
  2. Charterer’s liability covers designed to protect charterer’s responsibilities viz Ship Owners
  3. Kidnap & Ransom covers: includes ransom payment an expenses related to arrange a vessel’s release

For more information, please contact Jonathan Eaton, Head of Cargo and Stock Throughput.

Disclaimer:

It is stressed that every situation will be different and that this briefing note only seeks to provide general advice and may not be applicable to your specific case, insurance policy or circumstances, as the case may be.

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Global Group Giving Week

Global Group Giving Week

September 21st- 27th saw the whole of Hyperion Group come together (socially-distanced, of course) to volunteer, fundraise, donate and raise awareness for their chosen local charities for our first Global Group Giving Week initiative.

An amazing 29 countries took part in challenges such as the Kilometre Challenge, the One Bag Challenge and countless other individual fundraising initiatives. Together, we travelled 16,259 kilometres, collected over 910 bags of litter, volunteered many hours for our local charity partners and much more!

You can find out more about Global Group giving week, including the charities we supported, in this short video.

 

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Howden and A-Plan Group join to create new UK broking powerhouse

Howden and A-Plan Group join to create new UK broking powerhouse

The combined businesses will be a client champion in the London and regional markets, with entrepreneurship and employee ownership at its heart

Howden, the international insurance broking group, announced today that it has reached agreement to acquire A-Plan Group, one of the UK’s largest personal and commercial lines insurance brokers. The acquisition remains subject to regulatory approval.

The deal will create one of the UK’s largest insurance brokers managing over £4bn of gross written premium for 1.5 million clients, and operating from more than 100 locations. Howden’s parent company, Hyperion, will become the fifth largest employee-owned business headquartered in the UK with over 8,000 employees, including 4,500 in the UK.

The new partnership will bring together Howden’s leading specialty and reinsurance business and A-Plan Group’s best-in-class personal and commercial lines expertise, which it delivers via its established brands including A-Plan and Endsleigh.

For Howden the transaction means significantly broadening its retail distribution and specialist product capabilities in the UK and welcoming A-Plan Group’s best-in-class distribution model. This personal, service-oriented approach, delivered through its office network and digital and online channels, and backed-up by industry-leading data and analytics, has led to very high levels of customer satisfaction, driving high retention rates and low customer acquisition costs, alongside strong organic growth. For A-Plan Group, Howden is a long-term entrepreneurial home with complementary capabilities and culture, and clear ambitions to be the scale independent challenger broker.

Carl Shuker will continue to lead A-Plan Group as CEO, reporting to José Manuel González, CEO Howden Broking Group. Chris Evans will become Chairman of A-Plan Group in addition to his role as Deputy CEO, Howden UK. Max Carruthers, Chairman, A-Plan Group, will continue to support the business after completion.

David Howden, CEO of Hyperion Insurance Group, said: “I am thrilled that Carl and his team have chosen to join Howden as the place to deliver their ambitious growth plans in the UK.

“This is an incredibly important partnership for Howden and creates a significant opportunity to deliver a better and broader offering to both groups’ clients. Like us, A-Plan Group is a business built on a very strong culture of entrepreneurship with employee ownership at its heart and a relentless client focus. These values have ensured that over a period of more than 50 years it has been able to retain and win new clients by delivering to them the personal service they want whilst embracing the opportunities digital distribution, data and technology provide.

“Our combined groups will be a natural home for talent and entrepreneurs seeking a place to deliver the very best for their clients.”

Carl Shuker, CEO of A-Plan Group, said: “We are delighted to be partnering with Howden; it was instantly evident from the start of our discussions that we were very aligned on the central importance of people, clients and insurers, and that we would make for a very natural fit.

“Our track record of sustainable growth is something that we are very proud of, and we have huge ambition to take the A-Plan Group and brands to the next level, without diluting any of the values that have got us to where we are today.

“The markets that Howden and A-Plan serve are highly complementary, and our ever growing regional client reach and access will deliver considerable growth opportunity for the combined Group, and to our existing insurer partners.

“Being part of an entrepreneurial, international Group, is a really exciting next step for us, and we look forward to contributing to the delivery of Howden’s much wider ambitions.”

José Manuel González, CEO Howden Broking Group, commented: “I am proud that our story over the past 26 years has been one of growth, expertise, value-driven acquisitions and above all, a focus on our people. We continue to build a business where entrepreneurial talent can thrive, with the belief that when they do, our people will in turn do great things for our clients. By joining with A-Plan Group we stay true to this story – partnering with a business that truly shares our vision and values. The completion of this deal sees us managing £7bn GWP on behalf of clients across the 35 territories in which we operate. Factoring in our Howden network – which grows that figure to more than 90 – it is a move that will cement us as the international challenger broker, offering excellence, expertise and a different perspective all over the world.”

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Hiscox partners with RKH to launch first variable consortium for ‘hard to place’ general liability risks

Hiscox partners with RKH to launch first variable consortium for ‘hard to place’ general liability risks

Hiscox, the specialist global insurer, together with RKH Reinsurance Brokers, have launched a new variable 9000 series consortium* with a maximum line of over US$20 million for a wide range of challenging general liability risks such as wildfire, trucking and construction.

A market first, the variable consortium enables Hiscox to bind capacity on behalf of their follow market, whilst allowing every consortium member the opportunity to flex their line up to a selected maximum on a risk-by-risk basis, rather than be tied to a predetermined share of all business.

The variable structure gives Hiscox and their consortium members the flexibility to respond to more challenging and specialist risks, and offers brokers access to a meaningful amount of capacity from a single underwriting source, increasing the efficiency of the placement process.

The consortium is the third of a suite of US liability consortia led by Hiscox, and has been put in place to respond to a shortage of capacity in harder-to-place areas of the excess and surplus lines market, which fall outside of the scope of their existing consortia.

Combining the capacity of six Lloyd’s syndicates, the variable consortium is open to large risks domiciled in the USA and has already bound US$1 million GWP.

Commenting on the launch of the new consortium, Ed Wallis, General Liability Line Underwriter at Hiscox London Market, says: “Realising that some of the larger risks in highly exposed industries have been struggling to find capacity, we got together with RKH Reinsurance Brokers to put a truly innovative market response in place. The variable consortium offers general liability brokers and their clients a valuable point of entry for London market capacity, and will bring risks into the Lloyd’s market that might otherwise struggle to find a home.

“Our consortium members have given us the mandate to consider a broad spectrum of risks in capacity-challenged areas of the liability market, on the basis that they need not be constrained by a predetermined share of the portfolio. This allows them to vary their line according to the risks we put in front of them, allowing us to aggregate a larger amount of capacity than we might otherwise be able to obtain through a traditional consortium structure when the right opportunities present themselves. Ultimately this means we can be of greater service to our clients when they need us most.”

Tom Gauge, an Executive Director at RKH Reinsurance Brokers, adds: “We were delighted to work with Hiscox to bring true innovation to the consortium placement process, which in turn has enhanced their product offering, and ultimately the ability of the Lloyd’s market to respond to its clients in a challenging trading environment. As specialists in Lloyd’s consortia at RKH Reinsurance Brokers, we recognise the value that these structures can bring to the Underwriting Room in terms of capacity, distribution, and expense management, and the important role that they will no doubt play as the Lloyd’s market reassesses how risks can be placed most efficiently. ”

*All Lloyd’s consortia syndicate numbers start with 9000.

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RKH Specialty Aviation team trebles in size as it builds largest independent logistics team

RKH Specialty Aviation team trebles in size as it builds largest independent logistics team

RKH Specialty (“RKH”) today announced the appointment of 14 new senior Aviation experts in London and Colombia, as part of RKH’s wider plan of building the largest independent logistics team.

New hires in London are:

  • Alex Robinson, Divisional Director
  • Chris Vince – Divisional Director (joining on 2nd October 2020)
  • Marcio Rosset – Divisional Director
  • David Clewley – Associate Director
  • Karen Korkmaz – Associate Director
  • Michael Dumenil – Associate Director
  • David Bowers – Senior Account Executive
  • Ross Millar – Account Executive (joining on 6th July 2020)
  • Simon Smith, Divisional Director, (joining in December 2020)

In Colombia, Alejandro Ramirez Gomez and Maria Claudia Forero Mendoza join as joint LATAM Head of Aviation, along with account executives, Nayibe Galvis and Alexandra Bernal. Based in Bogota, the Colombia team will work closely with RKH’s London team as well as RKH’s network of international hub offices.

Led by recently appointed Global Head of Aviation, Jason Humphreys, who joined RKH in February 2020, the newly enhanced team will focus on developing bespoke products for the company’s growing portfolio of general aviation, aerospace and airline clients. These clients are looking to purchase tailored solutions from an independent broker able to offer a real and unique alternative.

Commenting on the new team, Humphreys said, “The aviation market has seen seismic shifts over the last 24 months but with our newly expanded team, we are now positioned perfectly to take advantage of global opportunities in the aviation sector. Seeking out and attracting the very best talent to join our already strong team is a key strategy for us and these hires represent a great leap forward for RKH. By October 2020, we will have gone from a seven person team in London to a team of 21, with dedicated aviation hubs in two continents.”

Darren Norris, Managing Director of RKH Specialty’s Risk Solutions division commented, “In current market conditions, clients need both new and creative routes to market across all specialty lines. Over the years we have built market leading practices across the full spectrum of specialties and we believe there are opportunities in Aviation where we can bring something new for clients.”

“Tough market conditions stimulate innovation and we intend to be at the forefront of those changes. Our expanded Aviation team sits alongside our Cargo and Marine teams, maximising our logistical expertise and service levels in London and in our international hub offices in Hong Kong, Singapore, Dubai and Miami. By accessing all of the world’s markets through one united team of experts, we can provide the best service and marketing expertise for our clients”, he added.

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RKH Specialty strengthens Casualty Division with appointment of David Marsh

RKH Specialty strengthens Casualty Division with appointment of David Marsh

RKH Specialty today announced the appointment of David Marsh as Divisional Director in its Casualty Division. Marsh joins from Tysers, where he was Director and responsible for providing bespoke accident and health solutions to a range of global clients. Based at RKH Specialty’s London headquarters but working closely with its network of international hub offices, Marsh looks forward to taking up his position at RKH Specialty.

Duncan Hubber, RKH Specialty Executive Director commented,

“David has a proven track record for developing new business and providing the highest level of service to clients around the world and is therefore a perfect match for RKH Specialty’s innovative and ambitious Casualty Division.”

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COVID-19 Update

Hyperion Insurance Group

Dear Clients and Partners,

In these unprecedented times, I wanted to outline how we are responding as a Group to the challenge we are all facing with the escalating Covid-19 Pandemic and to reinforce that we are committed to continuing to provide the high level of service you have come to know us for.

As an international group, we have operations, clients and partners in countries around the world, where both the disease itself and the various government responses to it are at different stages of development. Many of our offices have been dealing with this issue for some time, and I am proud of how they have acted with focus and determination, invoking flexible working practices to protect themselves and their communities whilst continuing to provide the highest level of service to our clients and partners.

Whilst we have had to adapt our working practices,our agility and creativity ensure that we have and will continue to deliver “Business as Normal in Abnormal Times”.

Our IT, telephony and network capabilities have been developed to support smart working, and our collaborative remote working tools such as Skype for Business, Workplace and other digitalplatforms are designed to keep ouremployees, our clients and partners in touch.

In summary, we are well-equipped to put our people first so that they can continue to deliver to our clients and partners.

In the UK, in line with many of our market counterparts,we have now closed our RKH Specialty offices and implemented remote working in order to protect our employees, our clients and our trading partners. We have also suspended non-essential business travel and wherever possible our teams are using technology to replace face-to-face meetings.

Our broking businesses have been frequently stress-tested and proven their remote working capabilities and I am confident you will see normal service delivery.

This extraordinary situation is likely to be with us for some time and I am most grateful for the professionalism and resilience of our employees and the support of our clients and partners.

We remain available to support you in any way we can and I ask that you reach out to us using your normal contacts if we can assist.

With my very best wishes to you, your colleagues and your families,

COVID-19 Update

David Howden, CEO Hyperion Insurance Group

 

COVID-19 Information Update:

Risk assessments have been undertaken for each of our UK offices prior to reopening, copies of which are available to employees on Workplace, in the ‘Coronavirus UK Updates & Support’ group, or by emailing coronavirusqueries@hyperiongrp.com

If any non-employees require a copy, please contact us via coronavirusqueries@hyperiongrp.com.

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RKH Specialty appoints Richard Mockett as Senior Executive Officer for Dubai hub

RKH Specialty appoints Richard Mockett as Senior Executive Officer for Dubai hub

RKH Specialty today announced the appointment of Richard Mockett as Senior Executive Officer for RKH’s Dubai office. In his new role at RKH, Richard will lead the Dubai operation and expand the specialty offering in the MENA region as well as coordinate strategy with other regional hubs in London, Luxembourg, Miami and Singapore.

Mockett started his career in London at JLT Specialty before moving to the MiddleEast in 2014 where he focused on client relations and the overseeing of (re)insurance placements for a variety of regional based energy companies. He later held the role of Head of Specialty and SEO for Middle East and North Africa, responsible for all MENA lines including Energy, Power, Property, Construction, Marine and Credit, Political & Security (CPS).

Mockett joins trade credit expert Mahan Bolourchi, incumbent SEO of RKH Dubai. Bolourchi will take up a new leadership role as Managing Director Financial Risks, which will enable him to take a more focused role on developing RKH’s rapidly expanding global financial risks practice.

Paul Redgate, Deputy Chairman of RKH Specialty, who is heading development of RKH’s international hub strategy, commented:

“Our offices around the world work closely together to bring clients the best global insurance and reinsurance markets have to offer across a full spectrum of specialty lines. Richard’s regional knowledge, his energy lines expertise and leadership skills not only help us develop new opportunities with clients and markets in the Middle East, but also across the world.

This development of our DIFC specialty platform is part of a long-term, internationalcommitment to increasing the strength and depth of our services for clients of RKH and our retail partner, Howden.”