The acquisition is expected to strengthen PIB Group’s motor trade proposition
PIB Group has acquired Surrey, UK-based insurance broking business RA Insurance Brokers, for an undisclosed amount.
The company expects that the acquisition of RA Insurance Brokers could strengthen its motor trade proposition.
Founded in 1996, RA Insurance Brokers is a commercial insurance broker offering business insurance protection for a wide variety of business sectors. Notably, the firm offers motor trade proposition via scheme with National Insurance and Guarantee (NIG).
RA Insurance Brokers’ offering complements motor and haulage solutions provided by experts within Cooke & Mason who have been a part of PIB since 2016.
Together, the three businesses are touted to be PIB’s development of a motor trade proposition with expertise across the entire sector, covering commercial insurance, risk management, day rate insurance and software solutions.
PIB Group CEO Brendan McManus said: “I’d like to give a very warm welcome to everyone at RA Insurance Brokers who bring further skills and expertise to complement our growing Group.
“The rapid growth of our motor trade proposition is particularly exciting, and I’m delighted that PIB can provide clients with a real breadth of knowledge, experience and expertise across the motor sector.”
RA Insurance Brokers is also experienced within the hotel and property owners’ sector, as well as domiciliary care, food, hospitality, marine and professional risks.
RA Insurance Brokers managing director Shamir Patel said: “We’re very excited to be joining PIB Group. The integration of RA Insurance Brokers into PIB is a fantastic opportunity to further support our clients and staff.
“We have a lot to look forward to by becoming part of a wider Group, such as access to a broader range of products and services for the benefit of our clients, as well as investment in our people to enjoy long and fulfilling careers.”
In February, PIB Group has acquired BK Insurance Brokers, an insurance brokerage firm, for an undisclosed amount.