UK-based Hyperion Insurance Group is to merge its marine operations to create one global marine broking company.

The international insurance intermediary will combine the mostly Asia-Pacific portfolio of FP Group with the European and North American business of Howden Marine and Howden International Cargo.

FP Marine has offices in Sydney and Melbourne, Hong Kong, London, Beijing and Taipei. The Howden Marine division is in London and Hamburg, and works with the London-based Howden International Cargo team.

The merged business will have 150 marine insurance professionals in six countries.

The executive committee driving the initiative includes FP Group CEO Phil Bilney and Howden Marine Chairman John Hanrahan.

“The specialist capabilities we have across our broking operations will, when combined, create one of the largest independent marine brokers in the world,” Hyperion CEO David Howden said.

“It will bring together the full range of product expertise and the geographic reach of Howden and FP, and will allow us to deliver a greater depth of local and international solutions to our clients.”