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Press Releases - 2015

Date Headline
06.11.15 RFIB announces leadership transition

RFIB Holdings Limited, the international Lloyd’s insurance and reinsurance broker, announced today that Dennis Mahoney, former CEO of AON UK, will transition from his role as Executive Chairman to become CEO of RFIB following UK regulatory approval. Jonathan Turnbull will step down as CEO after an orderly transition.

Dennis Mahoney said, “I would like to thank Jonathan for his leadership, dedication and many achievements at RFIB. He has played a key role in establishing RFIB as a leading independent specialty brokerage and built an organisation with a depth, brand and track record that is unique within the market. We look forward to building on his successes as we embark on an exciting new chapter for RFIB.”

Jonathan Turnbull joined RFIB in 2008 and assumed the CEO role in October 2011. During his tenure the business has grown in new and existing specialty lines, expanded geographically and developed the infrastructure to support further growth. This has been achieved while maintaining the Company’s long-standing track record of placing clients first and successfully executing on their behalf. Most recently, Jonathan facilitated an investment by Calera Capital that will support further growth and expansion of the business.

Jonathan Turnbull said, “I am very proud of what the team at RFIB has accomplished under my leadership. The conclusion of an investment by Calera Capital reflects a very successful evolution of our business since I assumed the role of CEO, and positions RFIB with the capital, infrastructure and resource to support further growth. Having brought the business to this point, the time is right for me to move on to other ventures. I wish the team at RFIB the best of success in the future”. 

22.10.15 RFIB completes sale of majority stake to Calera Capital

RFIB Holdings Limited, the international Lloyd’s insurance and reinsurance broker, is pleased to announce that it has completed the sale of a majority share in the business to Calera Capital, following the completion of all shareholder and regulatory approvals. Calera Capital is a private investment firm, managing $1.8 billion of capital, with a focus on partnering with founders and management teams to build exceptional businesses over the long-term. Management and employees of RFIB, led by Jonathan Turnbull, CEO, will retain a significant equity stake in the business. As part of Calera’s investment, Dennis Mahoney, former CEO of Aon UK, will join as Executive Chairman and has invested alongside Calera, management, and employees in the transaction.


RFIB’s status as an independent specialist Lloyd’s broker is central to the achievement of its vision. The Company has a robust platform, strong brand, and first-class track record. The completion of the transaction with Calera provides RFIB with the necessary backing to further build the business in what is a rapidly evolving market. RFIB expects to grow by developing its existing specialty offering as well as through investment in new teams and businesses.

28.05.15 RFIB agrees terms for sale of majority stake to Calera Capital
  • Terms agreed for the sale of a majority share in RFIB Holdings Limited to Calera Capital
  • Management and employees to retain a significant equity stake
  • Dennis Mahoney, former CEO of AON UK, to join as Executive Chairman
  • Business well positioned to grow organically and through acquisitions   

 

RFIB Holdings Limited, the international Lloyd’s insurance and reinsurance broker, is pleased to announce that it has agreed terms with Calera Capital, a private investment firm with offices in San Francisco and Boston, for the sale of a majority share in the business. The deal is subject to shareholder and regulatory approval and will see the management and employees of RFIB led by Jonathan Turnbull, CEO, retain a significant equity stake in the business.  As part of Calera’s investment, Dennis Mahoney will join as Executive Chairman, subject to FCA approval. 

Jonathan Turnbull said, “I am delighted to announce that we have agreed terms with Calera Capital. Over the past three years we have built a highly scalable business which we will grow by developing our existing specialty offering and investing in new teams and businesses. Our status as an independent specialist Lloyd’s broker is central to the achievement of our vision for RFIB.

“To realise our strategy we recognised that it was essential to secure a partner which would provide the necessary backing to take RFIB to the next stage in its development.  The team at Calera Capital share our vision for the business and with their support we are now ideally positioned to realise our ambitions. This is a tremendous milestone in the history of RFIB and we look forward to a long and mutually beneficial relationship with Calera Capital.

I would also like to thank Fleming Family & Partners for their support in building the solid foundations from which to begin the next phase of the company’s growth.”

Dennis Mahoney said, “I am honoured to have been invited to join Jonathan and his colleagues at RFIB. I believe many clients and indeed underwriters regard the ongoing success of a high quality independent broker as essential for a healthy market offering genuine options. In addition to fulfilling the role of Executive Chairman, I am investing substantial funds of my own to support the continued successful growth of RFIB.”

James Halow, a Managing Director, at Calera Capital, said, “RFIB has a strong brand, a long track record of executing for its clients and an attractive, scalable infrastructure to support future growth.  As an independent specialty broker we see tremendous opportunities to build the business further in what is a rapidly evolving market.  The belief of the management team in the future prospects of the business is evidenced by the considerable investment they are rolling forward into the transaction.”

Mark Williamson, Managing Partner of Calera Capital, added.  “We are delighted to be partnering with Dennis, Jonathan and the RFIB team, and are committed to supporting them with the capital and resources needed to realise the substantial potential of this high quality enterprise.”

27.05.15 Martin Pyrke to lead RFIB Middle East Expansion

RFIB Group Limited, the international Lloyd’s insurance and reinsurance broker, is pleased to announce Martin Pyrke has been appointed Senior Executive Officer of RFIB Middle East. Based in Dubai, he takes up his role with immediate effect tasked with maintaining and accelerating the growth of RFIB’s business in the region.

Martin, who joined RFIB in 2009 to develop its Middle East Reinsurance Treaty business, brings nearly four decades’ insurance experience to his new role. Prior to his appointment at RFIB he spent six years developing Benfield’s Middle East account. In total, Martin spent nearly 25 years at Greig Fester (subsequently Benfield) where he held various senior roles including serving as MD of Greig Fester New Zealand.

Martin takes over from Anthony Harris, who has managed RFIB's Middle East operations for nearly 10 years. Anthony has been appointed Deputy Chairman of RFIB Middle East Group and will also stay on in Dubai in a non-executive role, with responsibility for assisting business development in the wider region, taking advantage of Dubai's position as the main commercial hub in the Middle East.

Jonathan Turnbull, Chief Executive Officer of RFIB said: “We have built our leading reputation in the Middle East by offering clients products that reflect their needs and evolve with their businesses. In recent years, we have continued to strengthen our team by recruiting specialists who share our service ethos while also diversifying RFIB’s offering and are now ideally positioned to accelerate growth in the region. With his managerial experience, regional understanding and recognised broking skills Martin is the ideal candidate to leverage our strengths to achieve this expansion.” 

Adrian Spooner, Chairman of the Middle East Group said: “I am delighted that Anthony Harris will continue with the Group as Deputy Chairman. He has been instrumental to our development and his strategic counsel will be invaluable as we consolidate our leading position in the region.”

20.05.15 RFIB launches Life Reinsurance Unit

RFIB Group Limited, the international Lloyd’s insurance and reinsurance broker, is pleased to announce the launch of its Life Reinsurance Unit with the appointments of Michael Crawcour, as Divisional Director and Valentine Stockdale as Account Executive.

The RFIB Life Reinsurance Unit will offer a suite of specialist products including:

  • Life Reinsurance
  • Annuity Reinsurance
  • Financial Reinsurance
  • Global Access to Capital Markets

 

Michael Crawcour brings over three decades of experience in the life (re)insurance market to his role. Prior to joining RFIB, Michael served as Divisional Director at BMS where he was responsible for the launch and development of its Life Reinsurance Division. He began his career at CT Bowring Re.

Jonathan Turnbull, Chief Executive Officer of RFIB said: “I am very pleased to announce the launch of our new Life Reinsurance proposition. Our focus is on differentiating ourselves by developing specialist expertise in niche areas combined with our commitment to providing a bespoke responsive service. We will continue to diversify our offering by recruiting individuals who share this ethos and who’s knowledge and market experience mark them out from their peers. Michael’s appointment is a clear example of this strategy in practice. His vast knowledge of the Life Reinsurance sector and career-long focus on client service makes him the ideal candidate to spearhead our new unit ”.

Michael Crawcour added, “I am delighted to join RFIB to launch its new Life Reinsurance unit. There is a clear demand in this sector for innovative, bespoke risk transfer solutions and with RFIB’s reputation for service and expertise, I am confident that we will be able to furnish this demand and establish ourselves as a leader within this market”.

11.05.15 RFIB launches app to enhance client experience

RFIB Group Limited, the international Lloyd’s insurance and reinsurance broker, is pleased to announce the launch of its new online application for smartphones and tablets, which has been developed to improve accessibility and understanding of a select suite of its bespoke, complementary products. The app will initially provide both online and offline access to team and product information for the following classes of business, in reflection of clients’ needs for an increasingly comprehensive risk management solution for these areas:

  • Political Risk, Trade Credit & Surety
  • Global Risk Solutions (Property and Construction)
  • Cargo
  • Financial Risks

 

The app also affords easy access to the RFIB team and office network ensuring that, regardless of location and time zone, clients can always contact their closest RFIB representative. Finally in a further measure to improve clients’ ease of access to essential documentation, indication forms for Property Damage and Business Interruption are also available via the new app.

Richard MacFarlane, Managing Director International Non-Marine, said: “I am very pleased to announce the launch of our new app. We are committed to providing a market leading service which constantly evolves to match the needs of our clients and adapts to reflect how they do business. Businesses, particularly in the Middle East and Africa, increasingly utilise mobile applications in their commercial activities and the need for ready access to relevant  product and contact information in a simple, user friendly format was a key consideration in the development of our new app”.

The RFIB app is available to download for both Apple and Android devices at:

https://itunes.apple.com/tr/app/rfib-insurance-reinsurance/id941428978?mt=8

https://play.google.com/store/apps/details?id=com.rfibapp.rfib

The RFIB app is also available online as a webapp at the following address:

www.rfibapp.com

20.01.15 RFIB appoints Wolfgang Petz as Head of Medical Reinsurance for Middle East

RFIB Group Limited, the international Lloyd’s insurance and reinsurance broker, has announced the appointment of Wolfgang Petz as Head of Medical Reinsurance for the Middle East. He takes up his position with immediate effect reporting to Martin Pyrke, Deputy Senior Executive Officer in RFIB’s Dubai office.

Wolfgang brings over 25 years’ of medical insurance and reinsurance experience to RFIB and has worked for over a decade in senior positions in the Middle East. He joins from Munich Health, Munich Re’s global medical reinsurance arm. During his time with Munich Health, where he was latterly responsible for underwriting medical business in Saudi Arabia, Wolfgang obtained a deep understanding of the medical insurance and reinsurance requirements of insurers around the globe and especially in the Middle East and brings with him the technical understanding required to secure profitable business for RFIB’s markets.

Jonathan Turnbull, Chief Executive Officer of RFIB said: “Wolfgang has built an exceptional reputation in the Middle East based on his expertise, market knowledge and a focus on providing innovative reinsurance solutions. The Middle East represents an area of tremendous growth potential and we have the team in place to support our clients and partners and to become the broking partner of choice for specialist insurance products in the region. “Medical business accounts for about 30% of insurance premiums in the region and Wolfgang is the ideal person to develop medical reinsurance programmes for our growing number of clients in the Middle East.  I am delighted to welcome him to the team.”  

06.01.15 RFIB expands Hull and War business with appointment of Steve Hughes

RFIB Group Limited, the international Lloyd’s insurance and reinsurance broker, today announces the appointment of Steve Hughes as Divisional Director, Hull and War. He takes up his new position with immediate effect and will report to Chris Tansley, Managing Director of Marine International.

Steve brings nearly three decades of experience in the Lloyd’s market to RFIB. He joins from Willis where he served as Executive Director, Marine. Prior to this, Steve spent six years at Price Forbes as a Divisional Director responsible for producing and placing Marine Hull and Liability business. He began his career in 1989 with John Plumer and Partners (later AJ Gallagher) and has also held senior positions at Ropner Insurance and Besso.

Jonathan Turnbull, Chief Executive Officer of RFIB, said, “A key part of our growth strategy is to attract individuals who have the experience, market understanding and service driven approach to complement our specialist team. Steve has these qualities in abundance and his highly impressive reputation and vast expertise, particularly in US and Asian business, will be a significant asset to our Hull and War team. I am very pleased to welcome him to RFIB.”