Integro Insurance Brokers (trading as Tysers), have announced the signing of the definitive agreement to acquire Risk Transfer Group (RTG), the parent company of (re)insurance broker RFIB Group Ltd for an undisclosed fee.
Tysers say that the 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.
As part of the new acquisition Steven Beard will continue in his role as chief executive officer of RTG and will report to Integro CEO Andy Behrend.
The combined Wholesale brokerage team will be led by Tysers co-heads of Wholesale, David Abraham and Jason Collins.
Additionally the wider management team will be made up of a combination of the existing Tysers and RFIB management teams.
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. The combination will also benefit the team members of both firms by providing greater opportunities for career progression and development.”
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.”