UK broker PIB reveals major expansion in Europe through M&A

UK-based specialist insurance intermediary  PIB has expanded its European footprint and taken its first step into the Dutch market following recent transactions in Ireland and Spain. The group’s ambition is to build a leading pan-European commercial insurance brokerage and drive the business forward through organic and acquisitive growth.

PIB Group, which is backed by private equity firms Apax Funds and The Carlyle Group, has acquired Netherlands-based independent insurance broker Light, pending regulatory approval.

The move creates further opportunities for PIB to acquire other brokers in the territory.

Brendan McManus (pictured), chief executive officer for PIB Group, said: “I’d like to give a very warm welcome to all our soon to be new colleagues at Light who will be joining PIB Group. They have built a strong brand and reputation over many years, which makes this an exciting first stepping stone into the Dutch markets. I look forward to working with Ronald van de Laar who will continue to drive the business forward through organic and acquisitive growth in The Netherlands, supported by a highly experienced executive team.”

James Harmer, head of European M&A for PIB Group, added: “This is another fantastic milestone for PIB Group and marks our first step into the Dutch market, and builds on the transactions we have announced recently in Ireland and Spain, as we continue our expansion across Europe.

“We are thrilled to welcome Ronald and the team from Light who are highly specialised in their core product offerings of Healthcare, Income protection and commercial insurance. This is the first of many acquisitions we have planned in the Netherlands and the wider Benelux region, and our aim is to build one of the largest client focused insurance brokers in these markets.”

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