22 May 2018Actuarial & underwriting

Owner of Lloyd's broker RFIB to form UK captive manager

CCP TopCo, the holding company of Lloyd's re/insurance broker RFIB Group, is rebranding as Risk Transfer Group (RTG), and will be creating a UK captive management business later in 2018 to support its growth plans.

RTG's revenues are approaching £50 million, and it plans to double its revenue to £100 million by 2021.

It aims to achieve this through bolstering RFIB Group as an independent wholesale broker in its specialty fields.

RTG also plans to utilise its other subsidiary, Limehouse Agencies, to both acquire and set up managing general agents and captives

The holding company plans to announce a new acquisition in the next quarter.

“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," said RTG CEO Steven Beard.

“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.”

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