Group to comprise four specialist broking companies

RK Harrison has created three further specialist trading entities following the formation of Bowood Insurance Brokers as the group’s specialist delegated authority broker.

RK Harrison Insurance Brokers has been established to concentrate on the group’s specialty lines; London based property, casualty, energy, treaty reinsurance and construction. It will also include the healthcare and marine resources of Bowood Partners, which was acquired by RK Harrison in 2008, as well as property and casualty teams in Bermuda.

RK Harrison Insurance Services will transact business previously handled by the UK Division of RK Harrison Insurance Brokers. The business offers a wide range of specialist products to satisfy the insurance requirements of private clients and corporations with emphasis on designing insurance solutions for trade associations and affinity groups.

RK Harrison Financial Risks will combine the trade credit business of IRC (Europe), which was acquired by the group in November 2007, with the political risks and structured credit business of RK Harrison Insurance Brokers and the recently-formed specialist reinsurance division.

These three trading businesses, together with Bowood Insurance Brokers , will be supported by a common platform for administrative, operational and regulatory purposes. This platform will be RK Harrison Group .

RKH Group will be authorised by the UK Financial Services Authority and accredited by Lloyd’s. It is the intention to complete the restructure (subject to final regulatory approval) by 1st October 2009.

Paul Bridgwater, chief executive of RKH Group said: “Our group restructure brings together our complimentary skills and resources within distinctly branded businesses, with each business designed and structured to deliver the very best performance for its target audience, our clients and underwriting partners.

“This will allow us to evolve as a stable of strong brands, each with the drive and dynamism of a boutique independent broker, but together operating as a significant Group with all the benefits of our collective scale and authority.”

See a diagram of the group structure by clicking the link - New RKH Group structure - on the right.