The transaction sees the combined business reach $3bn of insurance premium
Integro Insurance Brokers Holdings Limited, the parent company of UK-based Integro Insurance Brokers – which trades under the Tysers brand – has acquired Risk Transfer Group (RTG), the privately-owned parent company of independent specialist Lloyd’s broker RFIB.
The purchase aims to continue Tysers’s investment and expansion into attractive, specialist insurance markets.
The wholesale capabilities gained by the acquisition, in particular, will help to further enhance Tysers’s expertise and product offering.
Jason Collins, co-head of Tysers Broking, said: “This acquisition furthers our vision to become the leading independent specialist broker in the UK. Our combination positions us well for the benefit of both our clients and markets.”
Tysers and Integro merged its respective insurance operations in 2018; the addition of RFIB now sees the business accumulate nearly $3bn of insurance premium and more than 1,100 global employees.
The transaction expands the organisation’s global footprint too, with local offices now situated in Asia, the Middle East, Australia, Europe and Bermuda.
Integration plans following the acquisition are now underway; the business aims to combine all of the firm’s operations this year.
Steven Beard, chief executive at RTG, said: “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.”
David Abraham, co-head at Tysers Broking, added: “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.”
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