PIB
Since its formation in 2015, PIB Group has grown to become a highly diversified insurance distribution consolidator focusing on specialist commercial lines and non-standard personal lines products with deep expertise across both direct and B2B distribution through its broking, underwriting and network divisions. In 2021, PIB Group secured further investment from Apax partners, and re-investment from PIB’s existing investor since 2015, The Carlyle Group.
PIB features in the Insurance Age Top 75 UK Brokers listing. Find out what other companies made the cut.
Brokers pledge to stop sharing building commissions and cap fees
Five top 100 UK broking groups have pledged to end sharing building insurance commissions with landlords and to cap fees. However, many others have not signed up including Gallagher UK who has refused to back the pledge in its existing version over concerns about "possible unintended consequences".
Market Moves: October 2023
All the latest key personnel moves across the insurance market.
Broker Expo 2023: Value of cyber insurance is the panel – says PIB security chief
The top value in cyber insurance is the panel on offer to clients, ahead of even the payout they might receive, according to PIB group information security officer Jason Ozin.
Top 100 UK Broker 2023: Directory - £150m -£200m
PIB Group
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.