PIB Group expands specialty arm with broker buy

Insurance intermediary group PIB has expanded its specialist division with the acquisition of commercial broker RBIG, a statement released today (4 October 2023) said.

Manchester-based RBIG was founded in 1981 and has specialisms in trade credit, high net worth and financial services.

Its solutions for clients include risk management strategies to protect assets, liabilities, profits and investments.

PIB said that acquiring the firm would strengthen its specialty and employee benefit arm, putting it on track to achieve a revenue of £128m by the end of 2023.

“The addition of RBIG to the growing PIB Group family is another great development for our speciality division,” Andy White, managing director for the northern specialty division of PIB Group, said.

“RBIG’s strong reputation, client focused approach and proven ability to understand, identify and meet client needs complements the entrepreneurial spirit that exists across our family.

“We’re so pleased to welcome the team and look forward to investing in RBIG to drive further growth together.”

Leadership

As part of the deal, RBIG’s subsidiaries – RBIG Corporate Risk Services and RBIG Financial Services – will also join PIB.

And the acquisition will also see RBIG remain under the leadership of Stephen Hodgson, Geoff Gregory and Stephen Astles.

Hodgson, who is the firm’s commercial director, said: “We’re thrilled to be entering this exciting new chapter, having been impressed at how business under PIB’s investment have continued to thrive.

“We chose PIB because of the group’s strength, scale and the many opportunities that we can unlock, to deliver even better and more comprehensive products or services for our clients.

“Our aligned thinking and culture around personal client focus and high service standards has also been a key influencer in our decision in choosing PIB as our new home for the future.”