RFIB owner CCP TopCo has rebranded itself as Risk Transfer Group (RTG) and will utilise its Limehouse Agencies holding company to both acquire and set up captives and managing general agents.
The rebranding is part of a strategy to double revenues to £100 million in three years.
Currently, revenues at RTG are approaching £50 million, and the firm is launching an additional strategy to grow revenue to £100 million by 2021.
RTG is also 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.
Steven Beard, CEO at CCP TopCo, said: “We are delighted to announce the launch of the Risk Transfer Group and our plans to double revenues to £100 million by 2021.”
He added: “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.”