The holding company of independent wholesale broker RFIB, CCP TopCo, has announced that it is rebranding to Risk Transfer Group (RTG) as it revealed plans to double revenues by 2021.
With revenues approaching £50mn, RTG said that it is launching a new strategy to grow revenues to £100mn within the next three years, which it expects to chiefly achieve through RFIB.
In addition, it plans to use its MGA business Limehouse Agencies to both acquire and set up MGAs and captives, teasing a new acquisition in the next quarter and the creation of a UK captive management business later this year to support its expansion efforts.
Commenting on the plans, group CEO Steven Beard said: “We are delighted to announce the launch of the Risk Transfer Group and our plans to double revenues to £100mn by 2021.
“RFIB is currently outgrowing the market organically and RTG will allow us to complement our healthy growth in the broking sector through the addition of MGAs and a captive business.”
Beard said that the company saw opportunities to serve both insureds and carriers through a combination of acquiring MGA businesses in addition to investing in talented entrepreneurial teams.
“Furthermore, we also see opportunities to use new technology to allow clients, particularly in the captive market, to self-insure with better terms. Our combination of independent broker, MGA and captive insurance solutions provides a range of distinct services to allow us to achieve the desired growth in the coming years,” he concluded.
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