U.K.-based insurance intermediary Hyperion Insurance Group has announced a merger with R.K. Harrison Holdings Ltd. The group will settle this transaction with cash (including deferred consideration) and equity shares in Hyperion Insurance Group. Despite the increase in the group's leverage in the medium term, we believe the complementary nature of the two businesses will support future organic growth. We are affirming our 'B' long-term corporate credit rating on Hyperion Insurance Group. The stable outlook reflects our view that the combined group will achieve an annual organic growth of about 7%-10% over next two years and reduce its leverage. LONDON (Standard&Poor's) March 10, 2015--Standard&Poor's Ratings Services today affirmed its 'B' rating on Hyperion Insurance Group Ltd (Hyperion).
