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.
RFIB Holdings, Lloyd's, Calera Capital, Jonathan Turnbull, Dennis Mahoney, London, Europe, North Ameria