The Reale deal: broker start up aims to double in size annually

A new broker has been set up to service the international property sector, with its sights set on double digit growth every year, Insurance Age's sister magazine Post has learnt.

Reale Insurance Brokers has partnered with Lloyd's wholesale firm, Market Insurance Brokers (MIB), and will include a handful of employees from Stuart Alexander (now Bluefin) and the London Market.

Neal Rea, the ex-property boss of Stuart Alexander, has taken on the role of broker director, alongside former colleague Andrew Lee, Reale's director of IT and operations. They set up the business with London Market insurance and risk management consultant Julian Kirkman-Page, marketing director. Tony Efreme has joined as head of property from Lockton.

Mr Rea said: "My vision is to provide a brokerage that excels at service delivery and offers bespoke products in an innovative way. The time is right to get back to traditional values and to provide our customers with the high level of customer service that used to be given as standard."

MIB CEO Mike Lewis and chairman Derek Ford will head up Reale, alongside MIB's company secretary, Trevor Watts.

Mr Kirkman-Page said the initial focus will be on UK property-related insurance in the first year. "We will then look to expand into the Middle East with our property insurance and risk management offering," adding that the broker would also look to expand into other product areas, such as retail and construction.

"We plan to double our book of business and profitability every year," he continued.

Reale's products will be available to freeholders, managing agents, management companies, landlords, right-to-manage companies and also through insurance intermediaries.

In addition to its standard property products, the broker will offer high-net-worth products, environmental insurance and consultancy services, valuation services, equity value protection and emergency call-out services.