Piraeus Insurance

Showing posts with label Piraeus Insurance. Show all posts
Showing posts with label Piraeus Insurance. Show all posts

Wednesday, 6 March 2019

MATRIX completes the acquisition of Piraeus Insurance Brokers and strategic partnership with Howden Broking Group

MATRIX Insurance and Reinsurance Brokers, the leading independent broker at Lloyd’s focusing on Southern and Eastern Europe, announces that it has completed in full the acquisition of the entity Piraeus Insurance Brokers, the broking arm of the largest Greek bank pursuant to the Share Sale and Purchase Agreement dated 31.12.2018. In particular, the final technical steps of the acquisition pursuant to the aforementioned Agreement, have been completed, along with a strategic partnership with Howden Broking Group, one of the world’s largest independent retail brokers . 
Dimitris Tsesmetzoglou, CEO of MATRIX Insurance and Reinsurance Brokers, stated: “Our acquisition of Piraeus Insurance Brokers is reinforced by our strategic partnership with Howden. It underlines MATRIX’s capacity to provide increasingly exceptional and added value services and benefits to existing and future clients, as well as to the larger corporate clients of the largest Greek bank. For MATRIX, this is the most important milestone, to date, and we are satisfied that we will be able, with amplified financial strength and immediate international access, to guarantee to all stakeholders an even larger, more competitive and holistic spectrum of insurance and reinsurance solutions, products and services.”
José Manuel González, CEO of Howden Broking Group, commented: “Howden is delighted to partner with MATRIX, a leading broker in the Greek and Cypriot market, at an exciting time in its development. The partnership will enable us to combine MATRIX’s strengths in its local markets with Howden’s international reach and provide the benefits of both organisations to MATRIX’s clients.”
Canaccord Genuity acted as financial adviser to MATRIX, and FieldFisher as legal counsel.  Norton Rose Fulbright acted as legal counsel to Hyperion Group.

MATRIX is an independent insurance and reinsurance broker, providing innovative structured products and services since 2003. The company became a registered Broker at Lloyd’s since September 2012 and has established local presence in key territories with offices in five countries (Greece, Cyprus, South Africa, Turkey and Switzerland), while the Group’s business scope expands in over 22 countries via expert network partnerships. 

For more information, visit www.matrix-brokers.com.
Howden, the retail broking arm of Hyperion Insurance Group, provides a range of specialist insurance solutions to clients around the world. Together with Howden One, its global specialist insurance broking network, it comprises over 10,000 professionals, operating in more than 90 territories, and handling a combined Gross Written Premium of over USD22bn.
For more information, please visit www.howdengroup.com.


Hyperion is a leading international insurance group with employee ownership at its heart. Founded in 1994, 2019 marks its 25th anniversary. It comprises broking divisions Howden and RKH, underwriting division DUAL, and data analytics and digital delivery business, Hyperion X. Hyperion’s businesses operate across Europe, Asia, the Middle East, Latin America, the USA, Australia and New Zealand, employing over 4,500 people in 38 countries.
For more information, please visit www.hyperiongrp.com