Brendan McManus, PIB chief executive officer, has revealed that PIB’s current deal with private equity backer The Carlyle Group is due to finish around 2021 and the broker is already seeking fresh longer-term investment.
However, he pledged not to sell PIB, which has been backed by Carlyle since it began, to a strategic broker.
McManus told Insurance Age: “Carlyle have been with us three years and been fantastic people. We know as they get to five years they get itchy feet. We spend a lot of
The Insurance Age team unpick the most recent and most popular stories.Subscribe to our daily newsletter for all the latest news
- Brightside hires new MD of broking as Russell Bence exits
- Ardonagh losses rise to £44.5m in H1 2019
- FSCS set to compensate Alpha Insurance latent defect insurance policyholders
- Gauntlet expands into Wales with two new ARs
- THB pledges support for Fleet UK
- Call Connection's administration extension confirmed
- Bravo Group spent £53m on deals in 2018