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RFIB expands international presence with creation of Bermuda subsidiary

Nigel Clark appointed as CEO.

RFIB Holdings Limited, the international Lloyd’s insurance and reinsurance broker, today announces it has established a Bermuda-based operating subsidiary, RFIB (Bermuda) Ltd.

Nigel Clark has been appointed as Chief Executive Officer of RFIB (Bermuda) Ltd. Nigel, whose 30 year career in the reinsurance sector includes 20 years in Bermuda as both an underwriter and a broker, was previously with the Carvill Group which he joined in 1996 to form Carvill (Bermuda) Ltd.

Patrick Holcroft, RFIB Chief Executive, commented: “The creation of RFIB (Bermuda) Ltd recognises the importance of Bermuda as a major insurance and reinsurance market hub and marks the next step in RFIB’s strategy to grow its specialist reinsurance businesses. The addition of someone of Nigel’s calibre and experience to the team will be extremely valuable in developing this new initiative.

Earlier this year, the group reported strong growth in the group’s operating revenues for its financial year to 30 June 2008 which was fuelled by the contribution of new teams and organic growth within the group’s Marine, Non Marine and North American divisions.

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