These are ambitious times for Risk Transfer Group Limited (RTG). The company has set itself a target to double revenues to £100 million by 2021 – and has quickly moved to set itself on that track with a significant acquisition.
Limehouse Agencies, which is part of RTG, has acquired specialist marine underwriting agency and Lloyd’s coverholder Corporate Underwriting Ltd. The latter has a large distribution network of more than 100 retail brokers and is seen as one of the leaders in this specialist area within its home market of Ireland.
“Corporate Underwriting Ltd is a leader in the Irish marine market and it has an excellent reputation for providing flexible, tailored solutions for brokers and clients which are competitively priced,” said Steven Beard, chief executive officer of RTG.
“This is the first step in our growth strategy to double our revenues to £100 million in the next three years establishing MGAs and captive businesses and by outgrowing the market on the broking side through RFIB. It is an exciting time for RTG and I am delighted to welcome Myles and his team to the business.”
The ‘Myles’ that Beard was referring to is Myles O’Brien, the founder and managing director of Corporate Underwriting Limited. He is set to continue to lead the business.
“This is a fantastic marriage of international expertise and local know-how,” he said. “We’re incredibly excited about the future opportunities this presents for the Irish market. We look forward to working closely with RTG in delivering outstanding products and services to our brokers and clients.”
