Lloyd’s insurer pushes into UK regional PI business

Lloyd’s insurer Barbican has bought Manchester-based managing general agency (MGA) Professional Indemnity Protect.

PI Protect is focused on UK professional indemnity (PI) and underwrites a broad range of professions.

Barbican will keep the PI Protect brand and the MGA’s underwriting team will remain in Manchester. The new acquisition will become the focal point for the development of Barbican’s UK regional professional indemnity underwriting business.

Barbican chief executive David Reeves (pictured above) said in a statement: “By bringing together these two businesses, we aim to build upon the very firm foundations that PI Protect has established, drawing upon the support and resources of Barbican Group to take the business to the next level, while offering wider opportunities in the UK regional market.”

Kevin McParland, managing director of PI Protect, added: “Barbican is an innovative and dynamic organisation and with their expertise can assist us in realising the full potential of PI Protect. I welcome the opportunity to work with Barbican; it’s a significant step forward for PI Protect.”