UAE: RFIB and Tysers complete acquisition deal
Source: Middle East Insurance Review | Mar 2020
RFIB Group has announced that the M&A transaction with Tysers has been completed, signalling that the Lloyd’s specialist broker is now part of a global family of companies with presence in Asia, the Middle East, Australia, Europe and Bermuda.
The acquisition of RFIB Group continues Tysers investment and commitment to expand into attractive, specialist insurance markets.
Tysers and Integro recently merged their insurance operations in 2018.
The addition of RFIB further positions the combined business as a leading independent, specialist insurance broker with over 1,100 employees globally and close to $3bn of insurance premiums. The highly complementary wholesale capabilities will further enhance Tysers expertise and product offering.
RFIB plans to continue using its RFIB brand in Dubai and Riyadh, as it is well-known throughout the region. The company said it will continue to strengthen its presence and commitment in the Middle East following the merger.
RFIB Middle East senior executive officer Anthony Harris who was at the Dubai World Insurance Congress (DWIC) in February told Middle East Insurance Review, “For the first time, Tysers and RFIB (now one company) have attended an international event together and organised a common calendar of meetings. The plan is that RFIB Middle East and Saudi Arabia will be fully integrated into Tysers, now rebranded Tysers Insurance Brokers Ltd by the summer of this year.” M