PIB
Backed by private equity firms Apax Funds (since 2021) and The Carlyle Group from its launch in 2015, PIB has grown rapidly through acquisitions and by employing individuals with a wealth of knowledge and experience in the insurance market.
The PIB Group offers a range of specialist teams, products, and services to clients and has offices throughout the UK, Channel Islands, Ireland, Germany, Poland, Denmark, Spain, the Netherlands, Italy and Romania.
PIB promotes Zach Gray to CEO of specialty division
PIB Group has promoted Zach Gray from deputy to CEO of its speciality division succeeding Steve Redgwell who has taken on the role of chair.
PIB buys RBIG
PIB Group has bought Manchester based commercial broker RBIG including RBIG Corporate Risk Services and RBIG Financial Services.
PIB targets underwriting and schemes growth with cross-divisional CEO
PIB Group has appointed Charles Burgess as CEO for underwriting and schemes.
PIB reveals £506m spend in 2022 as revenue hits £345m
PIB Group upped its merger and acquisition spending to £506.2m in 2022, as it snapped up 23 businesses with considerable expansion into Europe.
Esure and PIB investor Bain Capital raises $1.15bn for new insurance M&A arm
Esure and PIB Group investor Bain Capital has announced the final close of its inaugural private equity fund, Bain Capital Insurance Fund, LP at $1.15bn (£890m), above its initial target of $750m.
Blog: PIB’s Brendan McManus on the future of insurance broking M&A
Fragmentation, low market maturity, employee benefit opportunities and lower pricing make Europe ripe for broking consolidation, according to PIB Group CEO Brendan McManus.
Blog: Why is M&A moving to Europe and what does it mean for independent UK brokers?
As UK broker M&A targets become scarcer, smaller players are bound to follow the major consolidators into Europe argues Greg Cant, UK Financial Services Partner at Clearwater International.
Cobra CEO Tedstone aims to hit £1bn by 2025
The boss of broking network Cobra has said that it has identified a pipeline of 700 potential ‘unicorns’ as it seeks new members to meet its target of £1bn of premium by the end of 2025.
Succession planning: developing the senior manager talent of the future
Talent recruitment continues to be a major issue for brokers at all levels of seniority. With this in mind, Rachel Gordon looks at what insurers can do to help intermediaries develop their future leaders.
Manchester, Liverpool and the buoyant North West are under the spotlight
As we put Covid-19 behind us, Sophie Locke-Cooper discovers brokers in the North West are positive about the prospects of the local market despite worldwide economic challenges such as inflation and UK-wide issues such as recruitment and talent retention.
PIB snaps up residential property specialist broker
PIB has completed its second acquisition in less than a week, buying property broker St Giles.
PIB buys Bristol-based PI broker Pure Risks
PIB Group has acquired specialist professional indemnity insurance broker Pure Risks.
M&A slips back from 2021 record to £4bn in 2022
Imas has calculated that the value of UK general insurance distribution M&A dropped to £4bn in 2022 from £5.6bn in 2021, Insurance Age can reveal.
FCA signs off on PIB's £24m Jigsaw buy
The Financial Conduct Authority has approved PIB buying Jigsaw Insurance Services Plc, as the consolidator eyes a significant push into the personal lines market.
Barbon aims to double £21m earnings in five years
Barbon aims to double its current £21m Ebitda over the next five years, new managing director Wayne Tonge has revealed to Insurance Age.
PIB buys ABI in Italy
PIB Group has moved into the Italian market with its latest buy, expanding its portfolio, which already included offerings in Ireland, Germany, Poland, Spain and the Netherlands.
Wayne Tonge takes on major role within PIB Group
Wayne Tonge has taken on the managing director role at PIB-owned Barbon Insurance Group, Insurance Age can reveal.
Citynet secures capacity for ‘first class’ solution to help its brokers
Lloyd’s broker and wholesaler Citynet has secured capacity to help its broker partners on motor business.
UK broking M&A shrinking in 2022 as market becomes saturated
UK broking deals valued at £5m and above are set to reduce in 2022 as the number of available brokers for purchase shrinks.
People Moves: 5 - 9 December 2022
Keep up to date with the latest personnel changes in insurance.
PIB buys health and safety specialists Emprocom
PIB Group has bought Lincolnshire-based health and safety specialists Emprocom to add to its risk management division.
IFAs who mis-sold pensions to steel workers fear insurers will reject PI claims
Financial advisers who mis-sold pensions to British Steel workers ‘are concerned that their professional indemnity insurance may not respond to claims’, it has emerged in a regulatory update.
‘We expect insurers to pay’ – FCA agrees compensation for steel workers to trigger IFA claims
The FCA today agreed compensation for British Steel workers, meaning brokers are now braced for professional indemnity claims from financial advisers who gave them poor pensions advice.