The private client and specialist commercial broker made an acquisition in the high-net worth space last month

Stackhouse Poland has announced that it has completed the acquisition of real estate insurance broker Property Insurance Initiatives (Pii).

Stackhouse Poland chairman Jeremy Cary said the move is “a triumph” for its business.

He said: “We already have an established position in the real estate sector so the addition of Pii to our stable, with as much knowledge and expertise as their team brings to the party, we are confident the acquisition will strengthen both businesses, and that clients will see the positive changes in the months to come.”

It follows Stackhouse Poland acquiring high-net worth broker Symmetry Private Insurance last month.

Growth strategy

Pii chief executive, Brett Sainty added that the acquisition is an important part of the broker’s growth strategy, allowing it to compete at the top of the market on a greater scale.

Pii has offices in London and Bordon in East Hampshire, and has a key interest in environmental risk insurance.

It was founded in 2012 and has a team of specialists advising on property risk and offering property owners’, terrorism, construction risks, legal indemnity policies, and warranty and indemnity insurance.

Stackhouse Poland is a private client and specialist commercial broker established in 1974.

In April it acquired Birmingham based Honour Point, a corporate insurance broker and risk management consultant, while in October it bought legal indemnity insurance specialist Title and Covenant Brokers Ltd,