Bluefin buys P I Brokers

Bluefin has acquired the independent Edinburgh-based firm P I Brokers.

The broker employs eight staff and specialises in professional indemnity insurance.

The acquisition will add to Bluefin’s presence in Scotland. The firm currently has an office in the Bellshill area of Glasgow and an office in Edinburgh.

Bluefin chief executive Mike Bruce said: “Professional indemnity is an important area of our business and the acquisition of P I Brokers is an excellent fit for Bluefin. It is a high quality broking business led by Peter Laing and Lorraine Marchetti who bring with them an expert team with a successful track record. With continued growth expected this acquisition complements our strategy very well, bringing additional expertise and resources to Bluefin and our customers, and enlarges our presence in Scotland and Edinburgh in particular. Further acquisitions will be announced in due course as Bluefin continues to actively seek top quality businesses such as this.”

Bruce told Insurance Times that all staff will be retained and the office will remain open.

He said: “P I is one of our specialisms across the UK and having an additional footprint in Scotland is a build rather than a case of integrating and reducing costs, it’s all about building income. They bring an additional skill set in terms of the sectors they specialise in.”

Bruce added that eventually the firm will change its brand name to Bluefin.

P I Brokers managing director Peter Laing said: “Bluefin is a broker that values excellent customer service and recognises the importance of bringing specialist expertise and experience to its clients. This complements our ethos and culture extremely well so we are very pleased to be joining the group.”