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PIB Group makes first retail broker acquisition in Ireland

PIB Group makes first retail broker acquisition in Ireland | Insurance Business

PIB Group makes first retail broker acquisition in Ireland

UK-headquartered PIB Group Ltd has acquired Enniscorthy-based insurance broker Creane & Creane Ltd – the intermediary group’s first retail broking swoop in Ireland.

Formed by the late William Creane in 1945, the snapped up 30-strong family-run business is among Ireland’s longest established brokerages. It provides commercial and personal lines cover to retail and business customers, and is led by managing director Tony Doyle.

Under the deal, financial terms of which were not disclosed, Creane & Creane will retain not only its current roster and leadership but also the company’s branding.

Commenting on the development, Doyle stated: “Becoming part of a larger group was a big decision, and I’m very pleased to have found a new home through PIB who share the same values. Through PIB we will be able to pass further benefits on to our customers as well as our people.”

It was noted, meanwhile, that the newest addition to the group is one of the biggest clients of wholesale business Citynet Insurance Brokers, which has been under the PIB Group umbrella since 2017.

“I’m so pleased to extend the PIB arm around our new colleagues at Creane & Creane,” said PIB Group chief executive Brendan McManus (pictured). “This is a fantastic business with an amazing history, brilliant people, and strong client base.

“It didn’t take us long to recognise the strength and brand presence that they have built over many decades, which made them an obvious choice for our first retail brokerage business in the Irish market.”

Prior to its foray into retail broking in Ireland, PIB Group was only trading in the country through wholesale brokers Citynet and Optis Insurance.

McManus added: “We’re delighted that Tony and the team at Creane & Creane felt comfortable coming into PIB Group, which we see as a real endorsement of our family mentality and the value of relationships that we’ve got.

“We want to focus on Ireland becoming a key territory for PIB, with ambitions to grow both our retail and wholesale footprint through further acquisitions.”