Chief executive describes purchase as an ‘attractive investment opportunity’
PIB Group has added another notch on its acquisition belt by purchasing London-based real estate broker Arlington Insurance Services.
Arlington, which was established in 2005 and has 12 employees, focuses on providing broking services to professional property investors across the real estate market, with a particular specialism in commercial property assets.
The business also offers professional indemnity, directors’ and officers’ and some retail and commercial covers from its Bristol office.
For PIB Group, the acquisition aims to boost the broker’s existing property and construction insurance proposition.
Brendan McManus, PIB Group’s chief executive, said: “I’d like to extend a warm welcome to everyone at Arlington Insurance Services to PIB Group. As an experienced team of property insurance broking professionals who have consistently grown their business, they are an attractive investment opportunity for PIB.
“Their excellent client care is reflected through their loyal customer base and strong relationships with a broad range of insurers. I look forward to seeing the team reach their considerable potential through PIB’s investment.”
Nick Watts, managing director for Arlington Insurance Services, added: “We’re delighted that Arlington Insurance Services has been acquired by PIB Group, which marks an exciting milestone in our 15-year history.
“With the backing of PIB, we can develop the full potential and profile of the business while continuing our client-centric approach and excellent relationships with many leading real estate insurers.
“We also look forward to enjoying the benefits that come with being part of a wider group, including enhanced career prospects and collaborating with new colleagues to achieve the best client outcomes.”