The leaders’ ‘immense experience’ will contribute to the broker’s ‘continued evolution and rapid expansion plans’, says chief executive

Insurance intermediary business PIB Group has confirmed a raft of senior leadership changes in support of its acquisitive growth ambitions in Europe.

For example, Bernard Mageean, chief executive of MGA Q Underwriting and PIB Group’s schemes and affinities division, will now assume the additional role of chairman across these two business areas.

This will enable leadership continuity in these divisions ahead of Mageean looking to transition into solely acting as chairman.

burden, compliance

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Mageean initially joined PIB Group back in 2016. He was subsequently involved in the launch of Q Underwriting in 2019 – the MGA now has gross written premium (GWP) of £124m and revenue of £29m.

PIB Group non-executive director and Citynet chairman Adrian Colosso will also assume an additional role as chairman of PIB Group’s specialty division, known as PIB Insurance Brokers. Here, he will work closely with PIB Insurance Brokers’ chief executive Steve Redgwell.

PIB Insurance Brokers is the largest division within the group, with GWP nearing £500m.

Reaching the next level

Meanwhile, Andrew Walsh, currently managing director of London markets, has been promoted to chief executive of Lloyd’s broker Citynet.

He initially started working for Citynet back in 2011, before being appointed to the board of directors in 2014. He was the broker’s managing director before the business was bought by PIB Group in 2017.

Lastly, Tony Powis, chairman of PIB Employee Benefits, has now been appointed as the division’s non-executive director, pending regulatory approval.

With a career spanning 30 years, Powis’ experience aligns with PIB Employee Benefits’ goal to adopt a more global strategy backed by increased technology use.

Brendan McManus, chief executive of PIB Group, said: “I’m very excited about these executive changes, which reflect our proactive approach to being prepared for the next phase in PIB’s future.

“Their immense experience will support PIB’s continued evolution and rapid expansion plans and help to take us to the next level.”

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