PIB chief executive Brendan McManus has stated that he does not expect any redundancies to follow the company’s purchase of Cobra Group.
While he admitted there is some overlap between the two businesses, he noted that the transaction was largely complementary. The deal took the amount of premium placed or influenced by PIB from £550m to £900m.
McManus told Insurance Age: “They’ve got a network and an MGA, which sells different products to the MGAs we’ve got, the London market business has
The Insurance Age team unpick the most recent and most popular stories.Subscribe to our daily newsletter for all the latest news
- Ardonagh losses rise to £44.5m in H1 2019
- Brightside hires new MD of broking as Russell Bence exits
- Gauntlet expands into Wales with two new ARs
- FSCS set to compensate Alpha Insurance latent defect insurance policyholders
- Bravo Group spent £53m on deals in 2018
- Call Connection's administration extension confirmed
- GRP buys risk management firm H&S Click