The intermediary group completes two further acquisitions this month as part of its growth plan
Intermediary business PIB Group continues its acquisition trail this month by purchasing credit insurer CMR Insurance Services as well as health and safety consultancy Sue Smith.
The firm has now completed four acquisitions in 2019; this includes the purchase of the Cobra group of companies, a broker, and Ireland-based MGA Optis Insurance earlier this year.
Founded in 1985, CMR Insurance Services offers insurance protection against bad debts for UK and export sales through managed credit insurance policies. The business also provides claims and debt collection services.
CMR Insurance Services, which works with both startups and established major enterprises, currently employs a team of 12, led by husband and wife team Christian and Kim Hoy – all staff will remain with the business following the acquisition.
Christian Hoy, managing director at CMR Insurance Services, said: “Our team strives to provide the highest standard of service to our clients and we have achieved strong growth performance in recent years.
“We are excited to join PIB in the next stage of our evolution and contribute to the Group’s long-term ambitions.”
PIB Group has also acquired health and safety consultancy Sue Smith; this business will be fully integrated into PIB’s risk management division, to ensure continuity of service for clients.
Brendan McManus, chief executive at PIB Group, added: “I’m delighted to welcome on board all our newest colleagues to PIB Group who are joining at an exciting time in our journey.
“We look forward to supporting their growth with client service at the core.”
PIB Group is an insurance intermediary providing specialist insurance solutions in the UK, Channel Islands and Ireland.
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