The insurance underwriter and broker Hyperion was formed in 1994 in a management buyout of a division of Steel Burrill Jones, a Lloyd’s broker. David Howden, the chief executive who led the deal, has focused on business critical risks, including professional liability, fraud protection insurance for bankers, and protection from hacking and medical malpractice. Since 2000 Hyperion has acquired three companies in Britain and Sweden and launched three subsidiaries in Israel, Australia and India to triple its customer base. This has driven up profits 52% a year from £1.1m in 2000 to £4m in 2003.