PIB Group Ltd continues its acquisition spree with the arrival of general insurance broker CBC Insurance (Jersey) Ltd (CBCJ).
Snapped up from London Market general insurance intermediary CBC UK Ltd for an undisclosed sum, CBCJ specialises in areas like professional indemnity and directors’ & officers’ liability insurance, as well as warranty & indemnity cover for mergers and acquisitions.
The St. Heller business – which used to be known as PBS before it came under the CBC umbrella in 2018 – is led by managing director Si Aziz and director Stephen Potts.
“We are delighted to join the PIB Group family,” said Aziz, “and enjoy access to a wealth of unique specialised products that we look forward to sharing with our institutional, commercial, and private clients.
“We will continue our focus on working with new and existing clients to ensure that they receive the best available advice, support, and products. It is exciting to be able to do this under the PIB banner and get to know our new colleagues around PIB.”
According to PIB, the newly acquired brokerage will be integrated with the group’s Channel Insurance Brokers (CIB) in Guernsey.
“I am delighted to welcome everyone at CBCJ to PIB Group,” commented CEO Brendan McManus (pictured). “They represent another excellent addition to our family, as well as an important platform on the island of Jersey for PIB to pursue several longstanding relationships and development opportunities.
“This is an exciting move which opens up lots of opportunities to build the CIB brand and name further. With the added experience and location of our new colleagues, we hope that CIB will become the go-to broker for expertise, quality advice, and customer service across both islands.”
McManus added that CIB is expected to double in size over the next three years as they attract talented client executives to the team.
