RFIB now has minority stake in rebranded binding authority business

Lloyd's building

Lloyd’s insurer Amlin has taken a minority stake in RFIB Specialist Risks, an MGA owned by broking group RFIB Holdings.

The proportion of the stake was not disclosed.

The MGA has been rebranded Bellarmine Ltd. Amlin Syndicate 2001 will participate in some of the facilities managed by Bellarmine.

Following the transaction, Bellarmine’s management team, led by Hugh Champion, will hold a majority stake in the MGA, while RFIB Holdings will hold a minority stake.

As of 3 March 2012, RFIB Group Limited had a 51% stake in RFIB Specialist Risks and the management team 49%, according to a Companies House filing.

Champion himself held a 24.5% stake in the MGA as of that date.