RFIB Group, the international Lloyd's insurance and reinsurance broker, has been approved for an intermediary license by the Saudi Arabian Monetary Agency (SAMA) to commence its insurance and reinsurance operations in the Kingdom of Saudi Arabia. RFIB had been active in the Saudi Arabia insurance market for nearly three decades, but renewed regulatory efforts initiated by SAMA last year have required…

FirstCity Partnership Ltd., a Lloyd's registered broker for many years, is in the process of selling almost entirely its insurance brokerage business to Arthur J. Gallagher & Co. as per a recent announcement made by the latter.