Business

PIB Group acquires Acquinex

The move marks PIB’s third acquisition of 2021, following on from UK & Ireland Insurance Services Ltd and Element Hinton (Insurance Brokers) Ltd

PIB Group has announced the acquisition of Acquinex, a specialist financial lines MGA, whose group of companies specialise in providing bespoke mergers and acquisitions insurance products for small to mid-market deals across Europe.

PIB said the move will see the group “make strides in building expertise in specialist segments that are poorly represented yet demonstrate attractive growth characteristics”. 

Its international aspirations are also “gathering pace” as it looks to target businesses and teams in Europe which complement its existing products and expertise.

It also marks PIB’s third acquisition of 2021, following on from UK & Ireland Insurance Services Ltd and Element Hinton (Insurance Brokers) Ltd. It is also PIB’s first acquisition post formal completion of new investment from funds advised by private equity firm Apax.

Ryan Brown, CFO for PIB Group said: “I’d like to give a very warm welcome to everyone at Acquinex, another highly specialist firm to be joining PIB Group

“Our new colleagues are a fantastic addition, who have impressed us with their bespoke approach to underwriting along with a real depth in technical expertise and knowledge which is exceptional for a business of this size and scale.” 

He added: “Their strategic ambitions for internationalisation match our own and we look forward to investing into other countries and regions, as well as extending into other financial product lines.”

Formed in 2017 and headquartered in London, Acquinex specialises in underwriting Warranty and Indemnity and Tax Liability insurance for UK and European SME transactions. It also focuses heavily on streamlining processes and using technology to generate efficiencies in underwriting. 

It has assembled a pan-European team with a headcount of 20 serving clients from London, Frankfurt, Warsaw and Copenhagen offices, and its multiple locations will mean that PIB will have a presence in Denmark for the first time and embed further into Germany and Poland.

Chris Jackson, managing director (Operations) for Acquinex said: “We are delighted by the success of Acquinex in a relatively short space of time and thrilled to be in a position to become part of a larger organisation through PIB Group. 

“There is a real alignment of interests for further geographical expansion and developing our product lines thanks to PIB’s investment and financial support. The fact that this fits with the broader strategy of PIB is what makes this a great partnership.”

Brown added: “This up-and-coming business has so much potential which presents exciting collaboration opportunities for everyone. We look forward to harnessing the team’s energy to take Acquinex to the next level which in turn will support PIB’s long-term ambitions and MGA offering.”

Show More
Back to top button