CCP TopCo, the holding company of international insurance and reinsurance broker RFIB, has announced it is renaming the business to the Risk Transfer Group (RTG).
Currently, revenues at RTG are approaching £50 million, and the Company is launching a new strategy to grow revenue to £100 million by 2021.
RTG intends to achieve this through RFIB Group Ltd becoming the leading independent wholesale broker in its specialty fields. In addition it will utilise its Limehouse Agencies holding company to both acquire and set up MGA’s and Captives. RTG is planning to announce a new acquisition in the next quarter and will create a UK captive management business later in 2018 to support its growth plans.
Chief Executive Officer, Steven Beard said: “We are delighted to announce the launch of the Risk Transfer Group and our plans to double revenues to £100 million 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.
“In the MGA space, we see opportunities to serve both insureds and carriers through a combination of acquiring MGA businesses, and 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.”