{"id":2162,"date":"2022-02-07T10:44:31","date_gmt":"2022-02-07T09:44:31","guid":{"rendered":"http:\/\/localhost:10040\/?p=2162"},"modified":"2026-03-11T15:55:20","modified_gmt":"2026-03-11T14:55:20","slug":"pib-group-completes-its-acquisition-of-cicor-in-spain","status":"publish","type":"post","link":"https:\/\/pibgroupiberia.com\/en\/blog\/pib-group-completes-its-acquisition-of-cicor-in-spain\/","title":{"rendered":"PIB Group completes acquisition of Cicor in Spain"},"content":{"rendered":"<ul>\n<li><strong>PIB Group (PIB) has completed the acquisition of Cicor Internacional Corredur\u00eda de Seguros y Reaseguros (Cicor), a specialist independent insurance intermediary in Spain. The news follows the usual regulatory approvals since the investment was first announced in October 2021.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"color:#000000;\">This acquisition represents PIB's first foray into the Spanish market and is part of its ambitious international expansion strategy in multiple pan-European markets. The acquisition includes Global Marine, a subsidiary of Cicor.<\/p>\n<p style=\"color:#000000;\"><strong>Brendan McManus, CEO, PIB Group<\/strong>, said: \u00abWe are delighted to be able to extend a warm official welcome to Angelo and his team at Cicor. They are a brilliant new addition to PIB, and their arrival further consolidates the Group's strategy of building a leading commercial insurance brokerage across Europe.<\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"color:#000000;\">About Cicor<\/h3>\n<p style=\"color:#000000;\">Founded in 1988, Cicor is one of Spain's leading insurance and reinsurance brokers, providing services in commercial insurance, with substantial expertise in surety and credit and experience in marine and aviation insurance, as well as risk management services.<\/p>\n<p style=\"color:#000000;\">Cicor offers comprehensive insurance solutions to small, medium, and large businesses, trade groups, associations, and individuals. Niches include gaming, industrial machinery, food, jewellers, as well as sports and leisure. Cicor is also a member of International Benefits Network; Sequoia Benefits &amp; Insurance Services and AESIS Network.<\/p>\n<p style=\"color:#000000;\"><strong>Angelo De Benedetto, CEO of Cicor<\/strong>, commented: \u201cI am delighted that Cicor has become part of PIB Group. We are very proud to be PIB\u2019s foundational investment in Spain. Our team is made up of excellent professionals from diverse disciplines, all of whom are characterised by a desire to continue growing and evolving, so PIB will be a great ally for us\u201d.<\/p>\n<p style=\"color:#000000;\">As 2022 progresses, PIB's exciting international growth plans will continue with a number of new Iberian-based companies expected to join PIB in the coming months.<\/p>\n<p style=\"color:#000000;\"><strong>James Harmer, Head of European M&amp;A, PIB Group<\/strong>, commented: \u201cCicor is an excellent company and a fantastic first acquisition in the Spanish market. We are all excited about the skills and capabilities that Cicor brings to PIB. This is the first of many acquisitions we have planned in the Iberian Peninsula and our aim is to build one of the largest customer-centric insurance brokerages in the market.\u201d.<\/p>\n<p style=\"text-align:center;color:#000000;\"><\/p>","protected":false},"excerpt":{"rendered":"<p>PIB Group (PIB) ha completado la adquisici\u00f3n de Cicor Internacional Corredur\u00eda de Seguros y Reaseguros (Cicor), un intermediario independiente especialista en seguros en Espa\u00f1a. La noticia llega tras las aprobaciones regulatorias habituales desde que se anunci\u00f3 la inversi\u00f3n por primera vez en octubre de 2021. &nbsp; Esta adquisici\u00f3n representa la primera incursi\u00f3n de PIB en [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":3264,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[12,11],"tags":[],"class_list":["post-2162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualidad","category-general"],"yasr_visitor_votes":{"stars_attributes":{"read_only":false,"span_bottom":false},"number_of_votes":0,"sum_votes":0},"_links":{"self":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/2162","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/comments?post=2162"}],"version-history":[{"count":0,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/2162\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media\/3264"}],"wp:attachment":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media?parent=2162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/categories?post=2162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/tags?post=2162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}