PIB makes second healthcare purchase in two weeks

PIB Group (PIB) has acquired health insurance intermediary, i2 Healthcare, its second health insurance purchase in two weeks.

The move comes 14 days after the group announced that it has acquired consultancy firm, Lincsafe (Health & Safety) Limited.

i2 Healthcare has advised corporate clients on their health insurance and employee wellness requirements. Its principal areas of expertise include private medical insurance, group life insurance and income protection cover.

It places premiums of around £30 million annually for over 80 public and private clients which span a variety of sectors including law, finance, construction, manufacturing and the automotive industry.

There will be no reshuffling as part of the deal. Founders and shareholders, Paul Brantingham and Simon Derby will continue as directors.

Brantingham said: “Joining PIB is an important milestone in i2 Healthcare’s ten-year history and is a natural progression for us. To be recognised as specialists in our market by PIB and having the opportunity to continue growing through their support is a real endorsement of what we have achieved so far. We are looking forward to joining a wider network of experts who are renowned for their specialisms in their chosen markets.”

Derby commented: “We are often appointed as both broker and advisor to our clients where long-standing relationships are formed. I’m delighted that through PIB, we can continue those valued relationships and design bespoke solutions through our focussed approach while also remaining independent.”

This is PIB’s sixteenth acquisition since February 2016 and its fourth this year, after following Lincsafe, Wilby and Lorica Insurance Brokers.

Ryan Brown (pictured), chief financial officer for PIB Group, said: “I’m very pleased to welcome Paul, Simon and their team on board. i2 Healthcare has built an outstanding reputation in their industry for all aspects of employee health and wellness.

”This is a really exciting acquisition for PIB as it is the first specialist employee benefits business bought by PIB since the Group started acquiring in 2016.

”The move will strengthen the Group’s existing PIB Employee Benefits proposition, and given the recent growth in the PMI sector we will be looking to support i2 Healthcare to consolidate its position of strength in this area.”