Lloyd's broker Tysers snaps up RFIB parent RTG Risk Transfer Group
Integro Insurance Brokers (trading as Tysers) has signed a definitive agreement to acquire Risk Transfer Group (RTG), the parent company of Lloyd's re/insurance broker RFIB Group.
The move aims to expand Tysers' capabilities and product offering in the London wholesale market, while expanding its geographic reach.
Following the deal, Steven Beard will continue in his role as CEO of RTG and will report to Andy Behrends, Integro’s CEO. The combined wholesale brokerage team will be led by Tysers co-heads of wholesale, David Abraham and Jason Collins. The broader management team will be made up of a combination of the existing Tysers and RFIB management teams.
“This combination is the merger of complementary cultures and product offerings which will enhance our position as the leading independent specialist broker," said Behrends. "Together, we will accelerate our collective strategy to expand our distribution capabilities through an enhanced international presence. The combination will also benefit the team members of both firms by providing greater opportunities for career progression and development.”
Beard said: “Tysers is a well-respected firm and we are excited to be joining forces with them. We have a shared goal of being the leading independent Wholesale specialist. This will improve the breadth of services we can provide to our clients and provides an attractive proposition to the wholesale market, from which we can accelerate our growth plans.”
Abraham and Collins added: “We have just completed the integration of Tysers. The culture we have built there is one where staff can thrive and top insurance specialists will want to work. Our clients will benefit from an enhanced range of products, reflecting the broader and complementary skill set of the combined firm. We are very excited about bringing these two great companies together and will use the success of recent acquisitions to guide the integration and to ensure that both the success of our clients and our people are at the forefront of this process.”
