New strategy hopes to double revenue by 2021
CCP TopCo, the holding company of international re/insurance broker RFIB, has renamed the business to Risk Transfer Group (RTG) and plans to double its revenue to £100m by 2021.
Currently, revenues at RTG are approaching £50m.
RTG’s success strategy has been built around RFIB Group Ltd “becoming the leading independent wholesale broker in its specialty fields”.
In addition, the newly renamed group has also stated its intention to both acquire and establish MGAs and captives, utilising its Limehouse Agencies holding company.
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.
Newly appointed chief executive, Steven Beard said: “We are delighted to announce the launch of the Risk Transfer Group and our plans to double revenues to £100m 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.”
He added: “In the MGA space, we see opportunities to serve both insureds and carriers though 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.”