London-headquartered PIB Group has signed a conditional settlement to accumulate all shares of Nord Group, a transfer that’s set to increase its footprint in central and jap Europe.
The acquisition is presently pending regulatory approval in Poland, the place Nord Group has established a major presence since its inception in 1998.
Nord Group, which supplies danger administration, insurance coverage and reinsurance options, employs almost 250 consultants throughout Poland.
The group’s shopper base spans varied sectors together with public entities, monetary establishments, and industries reminiscent of development, power and healthcare.
Nord Group’s portfolio contains Nord Companion, Nord Re and Nord Serwis.
Since getting into the Polish market in 2020 with the acquisition of WDB, PIB Group has progressively constructed its native portfolio, buying a number of companies together with multi-agency insurance coverage firm Asist, Brokers Union, Equinum Dealer, Exito Group, ReSolutions and Transbrokers.eu.
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The addition of Nord Group is anticipated to additional solidify PIB Group’s operations within the area.
Commenting on the acquisition, PIB Group CEO Brendan McManus mentioned: “What we’ve acquired is a market-leading enterprise with improbable management and a proficient, hard-working crew. We’ve been very impressed with Nord from the outset and we’re very glad they’re turning into a part of our group. Nord may help us provide our purchasers a good better vary and depth of specialist experience, and the broader PIB Group may help Nord construct on its spectacular monitor document.”
Nord Companion administration board president Krzysztof Bromka mentioned: “We’re happy to hitch PIB Group, an impartial insurance coverage brokerage group. With an identical tradition and a full understanding of the position of an insurance coverage or reinsurance dealer, we are able to collaborate with prime consultants in different international locations. By means of PIB, we can even acquire better entry to worldwide insurance coverage and reinsurance markets, enabling us to supply our purchasers skilled assist in defending their pursuits, sources and investments.”
PIB Group Poland CEO Mariusz Muszyński mentioned: “The addition of Nord Group corporations to PIB Group is a tremendously vital milestone within the growth of our model. This strengthens our place within the Polish insurance coverage market. Nord Group, with its wealthy historical past and excellent crew of consultants, brings huge expertise and an modern method to danger administration, insurance coverage and reinsurance to PIB Group. We sit up for working with Krzysztof Bromka and his crew.”
In April, PIB Group acquired Romanian firm STEIN Bestasig Insurance coverage Dealer for an undisclosed sum. This deal marks PIB’s foray into Romania.
