London’s Hyperion Insurance Group and RK Harrison (RKH) expect to merge in the second quarter after both companies’ shareholders approved the deal.

David Howden will continue as CEO, while RKH Chairman Dominic Collins will become Executive Chairman and lead Howden UK, the group’s combined broking business.

Shane Doyle will continue to lead Hyperion’s managing general agency (MGA) Dual International, as well as RKH’s MGA Aqua. All the brands will be retained.

Hyperion will acquire all RKH shares, and the combined group will be 70% owned by its employees. Hyperion’s external shareholder, General Atlantic, will hold the other 30%.

The combined business will have projected annual revenues of almost £400 million ($783.66 million). The deal is still subject to regulatory approval.