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London-based wholesale broker Tysers, part of Integro Insurance Brokers Ltd., said Friday it has reached a definitive agreement to acquire London-based Risk Transfers Group, the parent company of RFIB Group Ltd., a specialist wholesale broker.
Terms of the transaction, which requires regulatory approvals, have not been disclosed, Tysers said in a statement.
The statement says Tysers and RFIB have complementary capabilities, which will provide opportunities to expand and enhance the combined businesses’ product offerings.
It said Steven Beard will continue as RTG CEO and report to Integro CEO Andy Behrends.
The combined wholesale brokerage team will be led by Tysers co-heads of wholesale David Abraham and Jason Collins, according to the statement.
The broader management team will be made up of a combination of the existing Tysers and RFIB management teams, with further details to be released “in due course,” according to the statement.
Tysers said last month that veteran Richard Tomkins, previously managing director of reinsurance, has been named managing director of its newly launched Bermuda operation.
London-based wholesale broker Tysers, part of Integro Insurance Brokers Ltd., on Tuesday said company veteran Richard Tomkins, previously managing director of reinsurance, has been named managing director of its newly launched Bermuda operation.