RTG's Limehouse buys Dublin-based marine agency Corporate Underwriting
Managing general agency (MGA) Limehouse Agencies, part of Risk Transfer Group (RTG), has acquired a Dublin-based specialist marine underwriting agency and Lloyd’s coverholder Corporate Underwriting (CUL).
The acquisition is a part of RTG’s new corporate strategy that aims to double revenues to £100 million by 2021.
Following the deal, CUL founder and managing director Myles O’Brien will continue to lead the business, which RTG intends to grow. RTG also includes an independent Lloyd’s broking business RFIB Group.
Steven Beard, chief executive officer of RTG, said: “Corporate Underwriting Ltd is a leader in the Irish marine market and it has an excellent reputation for providing flexible, tailored solutions for brokers and clients which are competitively priced.
"This is the first step in our growth strategy to double our revenues to £100 million in the next three years establishing MGAs and captive businesses and by outgrowing the market on the broking side through RFIB. It is an exciting time for RTG and I am delighted to welcome Myles and his team to the business.”
O’Brien commented: “This is a fantastic marriage of international expertise and local know-how. We’re incredibly excited about the future opportunities this presents for the Irish market. We look forward to working closely with RTG in delivering outstanding products and services to our brokers and clients.”
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