Integro Insurance Brokers Holdings Ltd., the parent of U.K.-based firm Integro Insurance Brokers Ltd., which trades under the Tysers brand, announced it has completed its acquisition of Risk Transfer Group (RTG), the privately owned principal parent company of RFIB, an independent specialist Lloyd’s broker.
Terms of the deal were not disclosed.
This acquisition continues Tysers’ investment and commitment to expand into attractive, specialist insurance markets, said London-based Integro. Tysers and Integro merged their insurance operations in 2018.
The addition of RFIB further positions the combined business as a leading independent, specialist insurance broker with over 1,100 employees globally and close to US$3 billion of insurance premium, said Integro, noting that the two brokers’ complementary wholesale capabilities will further enhance Tysers’ expertise and product offering.
The acquisition also expands the Tysers’ and RFIB’s global presence with local offices in Asia, Middle East, Australia, Europe, and Bermuda. Integration plans are well underway with the aim of combining operations of the firm in 2020, the company added.
“This acquisition furthers our vision to become the leading independent specialist broker in the U.K. Our combination positions us well for the benefit of both our clients and markets,” commented Jason Collins, co-head of Tysers Broking.
David Abraham, co-head of Tysers Broking, said: “RFIB adds further well-respected teams to Tysers. We have a great opportunity to attract and further retain the best, entrepreneurial talent in our industry.”
“We have a shared goal of being the leading independent specialist. This joining of forces will improve the breadth of services we can provide to our clients and provides an attractive proposition to the market,” stated Steven Beard, RTG CEO.
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