PIB Group Ltd (PIB) is on a roll this month, continuing its acquisition spree by targeting the Polish market again by acquiring advisory and brokerage services provider Brokers Union.
Established in 2002, Brokers Union operates a diverse business based on life and non-life insurance hubs segments, with expertise in public administration and sectors including healthcare, property management, and transportation.
As part of the deal, the advisory and brokerage services provider will complement and enhance the offering provided by WDB, a Polish brokerage that is part of PIB and plays a key role in its consolidation strategy for the Polish insurance brokerage market.
Brokers Union CEO Filip Rybacki (pictured) said the acquisition is a massive step towards building a competitive brand in the Polish and foreign markets.
“I’m very glad that we are now, together with WDB, part of the PIB Group,” Rybacki added. “I am convinced that the combination of our knowledge and experience will bring both sides many tangible benefits. It is not only an opportunity for business development, but the investment also represents a huge injection of energy and inspiration that will support our daily operations. Most importantly, for our employees, I believe that we are building a great space for their personal and professional development.”
WDB CEO Mariusz Muszyński welcomed Brokers Union to PIB and WDB, noting it represented the group’s growing Polish operation and the opportunity to work together on several synergies.
“Their experience in handling public tenders will be a particularly valuable addition to our combined offering. I look forward to working with Filip, Patrycja, and their fantastic team, whose proximity to us in Wroclaw is a great start to our ambition of building a strong brokerage hub for our region,” Muszyński continued.
The announcement follows PIB’s acquisition of Ireland-based Campion Insurance (Campion) and Oliver Murphy Insurance Brokers (Oliver Murphy), following regulatory approval. Earlier this month, the group also announced its fourth retail acquisition in Ireland with the purchase of Alan Tierney & Partners Ltd (Tierneys).
Commenting on the latest acquisition, PIB CEO Brendan McManus said: “This is another exciting moment for PIB Group as we welcome everyone at Brokers Union. Their arrival boosts PIB’s growing international footprint, and their expertise further strengthens our existing capabilities in the territory through our WDB operation. We look forward to investing in the next chapter of success for Brokers Union and their collaboration with WDB for the benefit of their customers and colleagues alike.”