H & M Intermediaries Italia Acquires Synkronos Italia S.r.l

H & M Intermediaries, the underwriting arm of the Hyperion Insurance Group, announces the completion of H & M Intermediaries Italia’s acquisition of Synkronos Italia S.r.l (“Synkronos”). Synkronos is the second largest underwriting agency, and this acquisition strengthens H & M Intermediaries Italia’s leadership as the largest MGA based on revenues. The acquisition will extend H & M Intermediaries Italia’s offering as well as enhance service in terms of know-how, products and insurance capacity.

Synkronos was founded in 2009 as a joint venture of Munich Re and Reale Group, who will continue to provide insurance capacity in Engineering, Fine Art and Employee Benefit lines.

Richard Clapham, CEO, H & M Intermediaries UK and Europe, commented: “This acquisition reinforces H & M Intermediaries Italia’s market-leading position while enhancing the breadth and strength of our specialised off-the-shelf and tailor-made solutions for clients.”

Maurizio Ghilosso, CEO, H & M Intermediaries Italia, said: “This acquisition diversifies our portfolio offering underpinned by the guarantee of strong capacity. In Synkronos we see the same qualities that differentiate H & M Intermediaries Italia in the market: a strong team offering best-in-class expertise in underwriting and claims management.”

Andreas Moser, CEO of Munich Re, Italia, added:

“We are very pleased about this new partnership with H & M Intermediaries Italia and Reale Group which confirms our position as a local centre of excellence for speciality lines. We have always viewed Synkronos as an outstanding insurance boutique, offering attractive and tailor-made insurance solutions and services to the market. H & M Intermediaries Italia is the ideal partner to reinforce Synkronos’ unique proposition.”

Andrea Bertalot, Deputy General Manager at Reale Mutua said: “For Reale Group this transaction is more than just a sale. We will continue to support the project launched in 2009 providing H & M Intermediaries Italia with the same Engineering, Fine Arts and Benefits insurance capacity. Our agents will keep on working to enrich the range of cover available to their customers and develop new business opportunities in the areas in which Synkronos operates, in order to offer a valuable service to the Italian market in terms of know-how, products and capacity”.

“This acquisition reinforces H & M Intermediaries Italia’s market-leading position while enhancing the breadth and strength of our specialised off-the-shelf and tailor-made solutions for clients.”  - Richard Clapham, CEO, H & M Intermediaries UK and Europe