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Heath quits SRB after takeover

Risk Placement Services has bought niche insurance brokerage Special Risks Bureau for an undisclosed sum in a deal that will see the two firms marketed under the RPS brand.

Special Risks Bureau chairman Garry Heath is leaving the firm as a result of the deal and is in talks with a number of firms about future roles.

RPS is accelerating its plans to offer stand-alone critical-illness and income protection to the specialist market and has brought the launch date forward to September. It is also doubling the number of providers on its panel to 12.

SRB managing director Mike Owen will remain with the combined firm and will be responsible for new products and managing relationships with providers.

RPS managing director Mike Hosie will be managing director of the merged companies. He says: “This merger opens up the other half of the marketplace. Over the next few weeks, we will be making IFAs aware of the changes.”

Heath says: “The time was right to go. I hope I will be staying around the industry but I may be moving out of the specialist insurance market and more to the middle I suspect.”

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