The transaction marks the 26th acquisition for the firm
PIB Group has bought independent Croydon-based broker BK Insurance Brokers – this is the organisation’s 26th acquisition to date.
BK Insurance Brokers, which was established back in 1981, provides insurance solutions within the property, corporate, private clients and small to medium-sized enterprise (SME) sectors.
The business has access, partner or scheme status with more than 100 different insurance markets and arranges over 10,000 policies a year.
All staff at BK Insurance Brokers will remain with the business following the acquisition – this includes managing director Paul Denton.
Shilpesh Patel, BK Insurance Brokers’ owner, will provide oversight and support during the firm’s integration into PIB Group’s specialty division; this portfolio includes specialist commercial lines brokers.
Patel said: “Since our formation almost 40 years ago, BK Insurance Brokers has enjoyed providing bespoke insurance solutions to meet the needs of our clients.
“Joining PIB Group is a great opportunity which enables us to continue with our growth ambitions, while playing our part in helping the Group to meet its long-term ambitions.
“We are looking forward to being part of a wider Group and working with an extended network of experts for the benefit of our clients and our people.”
Brendan McManus, chief executive at PIB Group, added: “I’d like to give a very warm welcome to everyone at BK Insurance Brokers who join us at the start of another exciting year at PIB.
“We spend a lot of time looking at specialist businesses in the market with a strong growth story and enjoy meeting people or teams that inspire us and who we feel would get on well with everyone within the Group.
“We look forward to collaborating with our new colleagues to open up our specialisms for the benefit of their clients. Likewise, Shilpesh and his team will complement and further strengthen our broad range of products and services across the Group.”
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