The move aims to create a united specialist commercial lines division
Insurance intermediary PIB Group is rebranding around 12 of its businesses to operate under parent firm PIB Insurance Brokers (PIB IB).
The restructure aims to simplify PIB’s specialist commercial lines portfolio – the company has grown excessively through acquisitions, meaning the network of brands working alongside PIB IB has become more complex.
The rebrand project will, therefore, create a newly expanded specialty division for specialist commercial lines, supported by in-house claims handling and a risk management team.
Due to complete by the end of 2020, the rebranding programme will extend PIB IB’s current specialisms to include real estate, leisure, construction, haulage and charities.
The move is further designed to complement the existing PIB Risk Management and PIB Employee Benefits businesses, to present a further unified approach and strength as a collective.
Brendan McManus, chief executive at PIB Group, said: “Simplifying the structure of our specialist businesses is an important step that will further strengthen the PIB Insurance Brokers brand and reinforce how we place collaboration at the heart of everything we do.
“All our businesses within the specialty division have made an important contribution to our success today and bringing them together to trade as one is a natural phase in our evolution so that clients can enjoy easier access to our extensive offering and expertise.”
PIB IB initially formed in 2015 as the original company of PIB Group. It currently specialises in areas such as professions, property, construction, transportation and trade credit.
The businesses now in the firing line to trade as PIB Insurance Brokers include Cooke and Mason, DE Ford, Franklands, Lorica, PIB Private Clients, PIB SME Insurance, QPI, Wilby (including Websters Insurance Brokers), WW Group, BKG West, Cobra Insurance Brokers and QPI.
The specialty division has 500 employees across 30 national branches – existing teams and contacts will remain the same following the rebrand.
Steve Redgwell, chief executive for PIB’s specialty division, added: “It’s exciting to see our specialty division continue to evolve and grow in brand strength.
“We are proud of the heritage and achievements that have made our businesses successful today, and whose values are shared and aligned to PIB Insurance Brokers, which will be our dominant brand.
“We will continue to put our clients at the forefront of our thinking in everything we do, maintaining local professional service, while celebrating and building on our specialisms as well as developing and growing our people.”