PIB Group has bought the Cobra group of companies, taking the amount of premium placed or influenced by PIB from £550m to £900m, Insurance Age can reveal.
The deal is subject to regulatory approval and is PIB’s 20th investment since 2016. It most recently bought Optis Insurances in Ireland in February.
Following the Optis purchase, PIB chief executive officer Brendan McManus stated that the business wants to expand into more countries in Europe. PIB is also currently looking to raise £100m -
The editorial team get their teeth into the top stories.Subscribe to our daily newsletter for all the latest news
- Lloyd’s suspends employee for “inappropriate comments” – report
- Brokers monitoring capacity shortages after TMKI run-off
- Tokio Marine Kiln Insurance to go into run-off
- Tokio Marine Kiln: Figures revealed following closure of UK arm
- Market moves: Change is in the air
- GRP’s County Group purchases Eric Rawlins & Company
- Profit margins for UK brokers at highest level in eight years