RFIB sells majority share to Calera Capital

RFIB Holdings, the international Lloyd’s insurance and reinsurance broker, has completed the sale of a majority share in the business to Calera Capital, following the completion of all shareholder and regulatory approvals.  Calera Capital is a private investment firm, managing $1.8 billion of capital, with a focus on partnering with founders and management teams to build exceptional businesses over the long-term.  Management and employees of RFIB, led by Jonathan Turnbull, chief executive officer (CEO), will retain a significant equity stake in the business. As part of Calera’s investment, Dennis Mahoney, former CEO of Aon UK, will join as executive chairman . RFIB says the completion of the transaction with Calera provides it with “the necessary backing to further build the business in what is a rapidly evolving market. The firm expects to grow by developing its existing specialty offering as well as through investment in new teams and businesses.