PIB Group Ltd (PIB) has today revealed its acquisition of Leicester-based Erskine Murray Insurance Brokers (Erskine Murray). Formed in 2012 as an independent commercial lines broker, Erskine Murray can trace its origins back over 50 years.
In a press release, PIB said that the core lines of the business will complement those of PIB which include corporate and commercial, specialist SME, high net worth and private clients, as well as value-add services such as risk management, employee benefits and an inhouse claims handling service.
Commenting on the deal, PIB Group CEO Brendan McManus issued a warm welcome to everyone at Erskine Murray and said the business represents a strong strategic fit due to its range of complementary attributes.
“While their geography will see our national footprint expand further, clients of Erskine Murray can continue to enjoy a professional, local and friendly service while accessing extra capability from the broader group offering,” he said. “I look forward to seeing the business flourish further with PIB’s investment and support.”
The Erskine Murray team is made up of 90 employees who are based across Leicester, Ellesmere Port, Houghton Regis and Wakes Colne, in addition to field-based account executives who have access to major insurers and niche markets. All employees will remain after the completion of the deal.
Tom Bartleet, CEO of Erskine Murray, said he is delighted that brokerage has become part of PIB and noted that the news marks the next phase in its evolution and success.
“With PIB’s investment, we look forward to meeting the growing aspirations of our clients and colleagues by building upon our growth, skills and reputation to take our business to the next level,” he said.
The deal, which comes only two days after PIB announced its acquisition of Arlington Insurance Services, is PIB’s largest acquisition this year in terms of headcount. The total headcount for PIB now stands at about 1,400 people.