The acquisition aims to support the recent purchases of Cooper Solutions and Cooke and Mason
PIB Group has bought specialist commercial broker RA Insurance Brokers to strengthen its motor proposition.
RA Insurance Brokers, which was established in 1996, provides a motor trade proposition via a scheme with insurer NIG.
PIB Group plans to use this to enhance its overall motor trade offering, which covers commercial insurance, risk management, day rate insurance and software solutions.
The purchase will complement PIB Group’s recent acquisitions of Cooke and Mason, which became part of PIB Group in 2016, and Cooper Solutions, which was bought at the end of 2019.
These three businesses within PIB Group will be the centre point for the organisation’s motor trade portfolio.
Brendan McManus, chief executive at PIB Group, said: “I’d like to give a very warm welcome to everyone at RA Insurance Brokers who bring further skills and expertise to complement our growing group.
“The rapid growth of our motor trade proposition is particularly exciting, and I’m delighted that PIB can provide clients with a real breadth of knowledge, experience and expertise across the motor sector.”
RA Insurance Brokers also operates within the hotel and property owners’ sector, covering domiciliary care, food, hospitality, marine and professional risks.
All employees will remain with the business, led by Shamir Patel and Sunil Patel.
RA Insurance Brokers managing director Shamir Patel added: “We’re very excited to be joining PIB Group.
“The integration of RA Insurance Brokers into PIB is a fantastic opportunity to further support our clients and staff.
“We have a lot to look forward to by becoming part of a wider group, such as access to a broader range of products and services for the benefit of our clients, as well as investment in our people to enjoy long and fulfilling careers.”
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