The broker’s ‘deep understanding’ of the Israeli and London market made it a ‘key differentiator’, says chief executive
PIB Group has acquired specialist independent Lloyd’s broker Guest Krieger Limited.
Guest Krieger operates across a number of business lines in the London market – including financial lines, professional and general liability, political violence and technology and cyber liability.
The broker also operates across more than 30 countries, with its written portfolio of business mainly emanating from Israel.
Managing director Alon Miller and his management team will remain with the company, working from the company’s offices in Cornhill in the City of London.
The business will also continue to trade independently under the Guest Krieger brand.
For PIB Group chief executive Brendan McManus, Guest Krieger’s “deep understanding of the Israeli and the London market” made the broker a “key differentiator”.
He continued: “It is a real accolade that [Guest Krieger] have chosen PIB as their destination for the next part in their long-term success story.
“We are impressed by their dominant market position and deep expertise in niche, high-growth lines and exceptional client base.
“What really tops off this fantastic new partnership is the fact that their culture and ethics are so aligned with those of PIB.
“We look forward to working with our new colleagues and supporting them in continuing to grow and thrive.”
Shared vision
PIB’s purchase follows signing an acquisition deal with Baily Garner (Health and Safety) Ltd (BGHS) yesterday (5 April 2022).
Read: PIB Group signs acquisition deal with health and safety consultancy
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Miller added: “From our first meeting, PIB Group and their investors at Apax Funds stood out as people that shared our values and vision for the future of Guest Krieger.
“They were enthusiastic to join forces with us and offered us a real and exciting opportunity to realise our long-term expansion strategy.
“We are thrilled and proud to be joining the PIB team, and we are confident that with support from both PIB and Apax, we will continue our success story.”
PIB Group, which launched in 2015, is backed by private equity firms Apax Funds and The Carlyle Group.
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