Hyperion Insurance Group, the London-based insurer backed by General Atlantic, has received an investment of more than $400m (€337.4m) from Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ).

CDPQ will sit alongside General Atlantic, which acquired a stake in Hyperion from investors including 3i in 2013. The company’s management team and staff will remain the largest shareholders.

Hyperion will also be launching a debt refinancing to reprice and extend its facilities. The two deals will give the company more than $300m of additional capital for future investments.

Hyperion’s operations include broking divisions Howden and RKH, and underwriting business Dual. It has offices in 37 countries and employs 3,800 people.

For the year to September, Hyperion reported unaudited turnover of £535m and Ebitda of £152m. Since General Atlantic backed the company earnings have grown almost five-fold.