The acquisition is the 19th completed by PIB
PIB has acquired Irish MGA Optis Insurances Limited.
Optis, established in 2008, serves the Irish SME sector and is the 19th acquisition made by PIB. The group said the acquisition forms part of its European growth plans.
The business operates as an MGA for a number of A rated insurers, providing a suite of combined liability and commercial combined packaged products for sectors including construction, retail, hospitality, property owners, manufacturing and distribution.
Products are distributed through an online platform, providing instant quotes as well as the ability to transact and obtain cover immediately.
The existing management team will continue to lead the business going forward.
Olivier Rodriguez, director of Optis, said: “The last ten years have been exceptional thanks to the ongoing support of our customers and insurers. We are looking forward to joining PIB and pursuing opportunities that will enable us to meet our ambitions of becoming the leading independent portal for the distribution of insurance products to Irish intermediaries.”
PIB chief executive Brendan McManus said the group had already made its preparations to trade in Europe post-Brexit.
He said Optis was part of its “longer term growth strategy”.
McManus added: “I’m delighted that Optis are joining PIB for this important milestone.
“Optis has experienced excellent growth over recent years, which is testament to the high quality organisation, reputable underwriting partners and a loyal customer base built by the Optis team.
“The offering provided by Optis will further enhance our business and I look forward to investing in their continued success in their current market and beyond.”
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