RFIB Holdings Limited (RFIB) and ToleHouse Risk Services Pty Limited (‘ToleHouse’) are pleased to announce the transfer of ownership of RFIB Energy Australia Pty Ltd to ToleHouse effective 30th June 2012.
After three years of continued growth of the Australian energy brokerage, Simon Race, Managing Director of RFIB Australia Pty Ltd, has exercised his option to buy out the RFIB ownership of RFIB Energy Australia Pty Ltd with the support of the team and management that have been working together and servicing the Australian Energy Petroleum industry for over 10 years.
ToleHouse and RFIB will continue to work closely together to build the business and maintain and develop their exclusive facilities providing continuity and a further commitment to the existing client base as well as a formidable platform to grow the business.
Commenting on the transfer RFIB, Chief Executive Officer, Jonathan Turnbull said “”RFIB’s focus will be on our core business units, however we will continue to maintain our existing presence in Australia by working with Simon and the ToleHouse team following the change of ownership, we wish them every success.
“The launch of RFIB’s new Natural Resources Group shows our commitment and desire to continue to be a recognised force in this exciting industry sector and ToleHouse provides the Group with the expertise and resources necessary in the Australasian region.”
Simon Race, Managing Director of ToleHouse said: “The past three years has been an exciting time for the energy insurance broker industry. We are seeing new challenges in risk management and insurance requirements as technology advancement provides access to new areas for exploration, such as deep water prospectivity as well as unlocking the vast regional resources we have in shale and unconventional resources. The ToleHouse team has the expertise to meet these challenges and with the continued close relationship with RFIB we look forward to growing and enhancing our service to the industry we love and know so well”.