RFIB Holdings Limited, the international Lloyd’s insurance and reinsurance broker, is pleased to announce that it has completed the sale of a majority share in the business to Calera Capital, following the completion of all shareholder and regulatory approvals. Calera Capital is a private investment firm, managing $1.8 billion of capital, with a focus on partnering with founders and management teams to build exceptional businesses over the long-term. Management and employees of RFIB, led by Jonathan Turnbull, CEO, will retain a significant equity stake in the business. As part of Calera’s investment, Dennis Mahoney, former CEO of Aon UK, will join as Executive Chairman and has invested alongside Calera, management, and employees in the transaction.
RFIB’s status as an independent specialist Lloyd’s broker is central to the achievement of its vision. The Company has a robust platform, strong brand, and first-class track record. The completion of the transaction with Calera provides RFIB with the necessary backing to further build the business in what is a rapidly evolving market. RFIB expects to grow by developing its existing specialty offering as well as through investment in new teams and businesses.