Marx Re is a reinsurance and insurance broking firm, primarily focused on asset-based businesses in property and construction, power generation and renewable energy sourced from Europe and Latin America
PIB acquires Germany-based Marx Re-Insurance Brokers. (Credit: Pete Linforth from Pixabay.)
PIB has acquired Germany-based Marx Re-Insurance Brokers to support its international expansion and strengthen its proposition as a provider of reinsurance solutions.
Established in 2009, Marx Re is a reinsurance and insurance broking firm, primarily focused on asset-based businesses in property and construction, power generation and renewable energy sourced from Europe and Latin America.
Marx Re-Insurance Brokers MD Oliver Marx said: “I am very excited that Marx Re is becoming part of PIB Group. We are pleased to be joining a rapidly growing group that is focussed on acquiring highly specialist businesses, who are encouraged to retain their entrepreneurial spirit and strong client focus.
“With PIB’s investment, we look forward to accessing a broader range of resources and benefits that come with integrating into a wider group. This also presents a fantastic opportunity for us to support PIB to enter the reinsurance market and meeting their international growth ambitions.”
Marx Re provides customised services for trading re-insurance and insurance market
Marx Re provides close relationships to risk buyers and risk sellers enable buyers to offer tailored services for the global trading re-insurance and insurance market.
PIB is an insurance intermediary group established in 2015, which provides specialist insurance solutions to clients throughout the UK, Channel Islands, Ireland and Germany.
The company has completed 29 acquisitions since December 2015 and was supported by investment from the Carlyle Group, a diversified global investment firm.
Furthermore, PIB has announced the acquisition of the employee benefits division of Sanlam Wealth Planning UK, and BK Insurance Brokers and RA Insurance Brokers, in 2020.
PIB Group CEO Brendan McManus said: “I’m delighted to welcome on board our new colleagues at Marx Re. This has been a unique opportunity to acquire an international operation driven by an outstanding individual and team.
“Their services will complement PIB’s existing offering while also broadening our proposition into reinsurance. I am looking forward to working with Oliver and the team to enable them to achieve their significant growth opportunities in highly specialist growth areas, into which we can invest further.”