19 October 2016 Insurance

PIB acquires UK specialist broker for legal profession

PIB Insurance Brokers (PIB) has entered into an agreement to acquire QPI Legal, a Northampton-based UK specialist broking and risk management company providing professional indemnity insurance (PII) to the legal profession.

QPI Legal also offers practice manager services, risk management consultancy, and provides insurance to niche practice solicitors and new start solicitors.

This acquisition marks the fourth investment by PIB since the global alternative asset manager The Carlyle Group acquired a significant equity stake in PIB in December 2015, and follows the acquisitions of Cooke & Mason, Fish Insurance, and Channel Insurance Brokers which took place earlier this year.

Brendan McManus, CEO of PIB, commented: “We are delighted to have acquired QPI Legal, a firm which is strongly aligned to our values of bespoke service and the highest level of expertise in its specialist area.

“QPI will bolster our rapidly growing professional risks offering, and will help to ensure that we continue to provide firms with the opportunity to place their PI at a competitive price with a premium quality insurer. We look forward to welcoming QPI to the PIB team”.

Phil Edwards, managing director of QPI Legal, said: “We are very excited to be joining the PIB team, a move that will allow us to further develop the consistent and high standard of work QPI prides itself on delivering.

“Knowing that PIB shares our ethos, and given its history of putting together specialist teams that complement each other, we are very optimistic about the opportunities that lie ahead. We look forward to working with PIB to ensure we continue to provide customers with a truly tailored and client-centric offering”.

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