Specialty Lloyd’s broker Tysers has announced the acquisition of Risk Transfer Group, the parent company of RFIB Group, for an undisclosed fee.
Tysers says the move to combine with another independent specialist brokerage demonstrates a commitment to expanding its capabilities and product offering.
As part of the deal, RTG Chief Executive Officer Steven Beard will continue on in his role and report to Integro CEO Andy Behrends.
Tysers’ Co-Head of Wholesale David Abraham and Jason Collins are set to lead the combined wholesale brokerage team.
Meanwhile, the wider 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.”
He added that the combination will also benefit the team members of both firms by providing greater opportunities for career progression and development.
“Tysers is a well-respected firm and we are excited to be joining forces with them,” commented Beard.
“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.”