- With this operation, the company reaffirms its commitment to the Spanish market and will continue with its growth plans.
- PIB Group Iberia, taking into account all its active operations in different phases, is the 5th largest company in the sector, with more than 450 employees and more than 450 million euros in premiums and other products under management during the last year.
September 10, 2024-. PIB Group Iberia, the Spanish subsidiary of the English insurance broker, has completed the merger process of 14 of the 25 insurance brokerages acquired in Spain since its arrival in 2021. Specifically, among the brokerages merged with PIB Group Iberia, formerly Confide, are Cicor, ICCURIS, Grupo VG, Tractio (Tractio Risk Correduría de seguros and Tractio Risk Solutions), Campos y Rial, Engloba, Cicor Global Marine, Privat Asesoramiento, Instituto de desarrollo asegurador, Lansegur, Noceda and Aguirre Vila-Coro.
This is a strategic commitment to the Spanish market, which is key to the company’s development. Thanks to the merger of these brokerages, PIB Group Iberia expands its offer, specializing and diversifying the services it provides to its clients.
Through this merger, PIB Group Iberia will implement a single operating model that will improve efficiency, thereby achieving cost reductions and increasing the capacity to invest in today’s new challenges linked to regulatory compliance, the digital environment or innovation and AI.
“With this operation, we are not only expanding our portfolio of services to offer our clients, but we are adding more resources and putting ourselves in a stronger position in the market,” explains Martín Navaz, CEO of PIB Group Iberia. In addition, Navaz points out that “our way of working is always respecting the teams as much as possible: we do not integrate brokerages, we integrate entire teams of people who help us to face the many challenges of the present and the future”.
For his part, PIB Group Europe CEO Onno Janssen said, “We are very pleased with the results. We are very satisfied with the evolution of the Spanish market. The reception has been very positive and the strategic plans we have for the coming months are along the same lines. “.
PIB Group Iberia, with presence in 15 cities and more than 450M euros in premiums under management
PIB Group Iberia is present in 15 cities in Spain, covering the provinces of A Coruña, Barcelona, Castellón, Córdoba, Lleida, Lugo, Madrid, Ourense, Pontevedra, Tarragona, Valencia, Vizcaya and Zaragoza.
450 million in premiums and other products, consolidating its position in the market and reinforcing its commitment to excellence and customer service.
About PIB Group
PIB Group is an independent, dynamic and diversified specialty insurance broker that is experiencing rapid acquisitive and organic growth, with the integration of outstanding professionals. Incorporated in 2015, PIB Group has since grown rapidly through acquisitions, by organic growth itself, as well as by recruiting outstanding professionals with a wealth of knowledge and experience in the insurance market.
PIB Group offers a wide range of equipment, products and specialized services, and is present in the United Kingdom, Ireland, Germany, Poland, Denmark, Spain, Italy, Israel, the Netherlands and Romania. In these countries, it already has more than 3 billion euros in premiums under management and more than 3,800 employees.
