New York and London (6 September 2019) – Integro Insurance Brokers, trading as Tysers, today announced the signing of a definitive agreement to acquire Risk Transfer Group (“RTG”), the parent company of RFIB Group Ltd (“RFIB”), a leading specialist Wholesale broker headquartered in London. The transaction requires regulatory approvals, and financial considerations have not been disclosed.
Today’s news demonstrates Tysers commitment to expanding its capabilities and product offering by seeking to combine with another leading independent specialist to enhance its position as the leading independent insurance broker.
Tysers and RFIB have complementary Wholesale capabilities, which will provide opportunities to expand and enhance the combined business’s product offering – with new solutions and expanded geographic coverage to provide the best solutions to clients.
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. Details of this will be released in due course.
Behrends commented, “This combination is the merger of complementary cultures and product offerings which will enhance our position as the leading independent specialist broker. Together, we will accelerate our collective strategy to expand our distribution capabilities through an enhanced international presence.” Further adding, “The combination will also benefit the team members of both firms by providing greater opportunities for career progression and development.”
Steven Beard, CEO of RTG commented, “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.”
Tysers, founded in 1820, is the trading name of Integro Insurance Brokers and owned by Odyssey Investment Partners, LLC. It has evolved to become a leading specialty insurance brokerage firm, serving clients in over 125 countries. The business is active in a range of speciality areas, including Marine & Aviation; North America P&C; International P&C; Reinsurance; Management Risk; Accident & Health; Bloodstock; Corporate & Private Clients; and Entertainment & Sport.