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PIB Group reveals CMR and Sue Smith acquisition

PIB Group reveals CMR and Sue Smith acquisition | Insurance Business

PIB Group reveals CMR and Sue Smith acquisition

Insurance intermediary group, PIB Group Limited (PIB) today revealed its acquisition of CMR Insurance Services (CMR) and Sue Smith Ltd.

These are the latest in a series of acquisitions made by PIB, which is aiming to become a leader in the provision of specialist insurance services. Earlier this year, PIB acquired the COBRA group of companies, as well as Ireland-based Optis Insurance Ltd.

Read more: PIB Group reveals latest acquisition

CEO for PIB Group, Brendan McManus, said: “I’m delighted to welcome on board all our newest colleagues to PIB Group who are joining at an exciting time in our journey. We look forward to supporting their growth with client service at the core.”

CMR provides clients with insurance protection against bad debts for UK and export sales through managed credit insurance policies, and also claims and debt collection services. It has operated in this market for over 30 years.

The CMR team consists of 12 employees led by husband and wife, Christian and Kim Hoy, who will remain with the business upon the completion of the sale.

Commenting on the deal, Christian Hoy said: “Our team strives to provide the highest standard of service to our clients and we have achieved strong growth performance in recent years. We’re excited to join PIB in the next stage of our evolution and contribute to the Group’s long-term ambitions.”

Sue Smith Ltd, a small health and safety consultancy also recently acquired by PIB will be fully integrated into PIB’s risk management division to ensure continuity of service for clients.