British insurance coverage middleman PIB Group has continued its deal-making spree with the acquisition of Nottingham-based RS Insurance coverage Brokers.
Monetary phrases of the transaction stay undisclosed.
The acquired firm, which focuses on fleet {and professional} indemnity strains of enterprise, expands PIB’s portfolio of specialist choices.
It’s anticipated to bolster PIB’s attain throughout the Midlands area.
As a part of the acquisition, eight RS staff will be part of PIB.
RS managing director Karll Smith stated: “One of many promoting factors for PIB is that I’ll get to do full time one of the best little bit of my job, which is to exit and win enterprise and make new relationships with purchasers. We had a number of presents and PIB’s phrases have been one of the best for everyone concerned.
Entry probably the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Achieve aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nonetheless, we would like you to take advantage of
useful
choice for your online business, so we provide a free pattern you can obtain by
submitting the under kind
By GlobalData
“I get to maintain working the enterprise the best way I run it now and I get to develop it as quick as I can. As a result of profitable a deal and servicing purchasers is what offers me an excellent buzz and being a part of PIB means I can focus 100% of my time on purchasers with entry to greater markets.”
PIB Insurance coverage Brokers regional managing director for North East and East Midlands Charlie Upton stated: “I’m delighted that Karll Smith selected PIB to put money into his enterprise and be part of our rising success story. As a exceptional chief, he can have the prospect to raise his enterprise to new heights with the funding that comes with an acquisition like this.”
In July, PIB reached a conditional deal to amass Nord Group in a bid to develop its operations in central and japanese Europe.
With round 250 specialists in Poland, Nord Group is engaged in providing danger administration, insurance coverage and reinsurance options.
It serves purchasers in various sectors reminiscent of public sector, monetary providers, development, power and healthcare.
In April, PIB purchased STEIN Bestasig Insurance coverage Dealer, marking its entry into the Romanian market.
