RFIB is set to make acquisitions following a management buy-out (MBO) and renewed private equity investment.
As part of the capital restructure, through an MBO from retired shareholders and the introduction of FF&P Private Equity (FPE), the Lloyd's insurance and reinsurance broker intends to invest more than £2m in business growth.
FPE, the private equity division of Fleming Family & Partners, has also committed to further capital resources in order to fund the expansion of RFIB.
Richard Johnston, managing director of RFIB non-marine division, told Insurance Times: "FPE has provided the capital to allow original shareholders to relinquish their shareholding and that is alongside the [£2m] investment from working practitioners through the MBO.
"[Business growth] will be achieved through a combination of looking at investment opportunities and potential acquisitions of other suitable business, and in investing in people who have complementary skills sets and the same business philosophy as RFIB."
Johnston confirmed that as part of RFIB non-marine's international development it will be targeting growth opportunities in the wholesale insurance business.
"We will build upon our existing capabilities within the binding authority/facilities area, with particular interest in the specialist accident and casualty classes," he added.
RFIB, which specialises in marine and non-marine reinsurance, as well as being the UK's largest micro light broker and leaders in the balloon, light aircraft, glider and helicopter insurance markets, recorded total revenue of £24.7m and pre-tax profits of £3.1m in 2006.
