PIB Group’s acquisition spree continues with the arrival of three firms, one of which is in Harrogate and two outside the UK.
The British deal features Jigsaw Insurance Services, which specialises in motor, breakdown, and pet insurance. As reported by Insurance Business yesterday, PIB secured regulatory approval from the Financial Conduct Authority.
The intermediary’s offer also became unconditional following receipt of offer acceptances from Jigsaw shareholders who represent 97.2% of the company’s shares. The remaining shares will now be compulsorily snapped up by PIB.
“Jigsaw is a very special business, and I am absolutely delighted that PIB Group will become their new home,” said Nick Mountifield, PIB’s schemes & affinities chief executive. “Over the past 20 years, Neil and the team have built an excellent business and earned a loyal customer base.
“Their deep expertise in their specialist areas is an obvious draw for PIB, as well as their genuine concern for their people, customers, and integrity that is firmly engrained in their culture. Their presence in the personal lines market represents a fantastic step into a new market which will provide many more opportunities for growth, which will also bolster our existing products and services across the group.”
Mountifield was referring to Jigsaw managing director Neil Richards-Smith, who will continue to lead the specialist broker. Set up in 2000, Jigsaw services more than 200,000 customers.
Also joining the PIB family are Landmark Insurance and Halligan Insurances, which were acquired through PIB’s Campion Insurance.
Led by managing director Mark Pringle, Landmark Insurance is a Dublin broker that consists of core general business units of commercial and personal lines and a niche life & pensions business. The firm is also the name behind the QuickQuotes.ie brand.
Meanwhile, Brian Halligan will become managing director of Halligan Insurances, which specialises in providing professional insurance products and services to members of trade unions, affinity groups, and staff organisations. The new MD takes over from founder Michael Halligan, his father, who is exiting the business.
With the two companies added to the group’s Irish division, there are now 400 people employed by PIB in Ireland.
“I would like to extend a very warm welcome to our new colleagues, following the acquisition of Landmark and Halligan Insurances,” commented Campion Insurance chief executive Jim Campion. “The addition of both businesses once again highlights our ambition in the Irish market and aligns with our strategy of developing our specialist insurance offerings for the benefit of our customers.
“I look forward to working with Mark, Brian, and the teams in Landmark and Halligan Insurances to continue our growth in the market as our business continues to go from strength to strength.”