PIB sets sights on long term investment deal
The recently re-financed business is aiming to find a longer-term backer in 2021.
Brendan McManus, PIB chief executive officer, has revealed that PIB’s current deal with private equity backer The Carlyle Group is due to finish around 2021 and the broker is already seeking fresh longer-term investment.
However, he pledged not to sell PIB, which has been backed by Carlyle since it began, to a strategic broker.
McManus told Insurance Age: “Carlyle have been with us three years and been fantastic people. We know as they get to five years they get itchy feet. We spend a lot of
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