Latest deal is PIB’s 12th in 19 months
PIB today announced a deal for Lloyd’s wholesale broker Citynet Insurance Brokers.
Citynet, founded in 2005, places commercial including liability,motor fleet, property and PI for UK and Ireland brokers.
Citynet chief executive Richard Scott said his management team will continue to lead the business following the completion of the deal.
Scott said: “Joining PIB is an exciting prospect and I’m looking forward to bringing our expertise to the Group which should enable new and different conversations with all our clients. Everyone in Citynet is passionate about sourcing innovative solutions to unusual challenges and hard-to-place risks.”
PIB chief executive Brendan McManus sadi: ”They align perfectly with those provided by our existing businesses and will make a strong contribution towards our Group strategy to deliver significant organic and acquisitive growth over the next five years.”