Strategic Acquisition of Bridle Insurance Brokers
RFIB Group Limited (RFIB), the international Lloyd’s insurance and reinsurance broker, has expanded its presence in the UK market with the acquisition of the business of Bridle Insurance Brokers (BIB), based near Southampton.
BIB, which can trace its origins back to 1952 and has a particular focus on the SME sector, will be integrated into the RFIB Group in a new subsidiary, Bridle Insurance Brokers Limited. This subsidiary will be headed by BIB proprietor, Adrian Beale, as Managing Director.
As part of the integration process, RFIB’s Holbury office, headed by Paul Chapman, will become part of this new entity.
Patrick Holcroft, Group Chief Executive, said: “Today’s acquisition is a further step in RFIB’s development in the UK market. In addition to having a strong focus on the SME sector it gives RFIB Group a purpose built retail platform, with a specialist IT system, outside London, which should help the Group enhance its offering to clients.”