PIB Group Limited (PIB) has acquired RA Insurance Brokers, another specialist insurance broking business, in an undisclosed deal.
Established in 1996, with a trading history extending back to 1981, RA Insurance Brokers are a leading commercial insurance broker arranging business insurance protection for a range of business sectors.
Most notably, RA Insurance Brokers provide a market leading motor trade proposition via a scheme with NIG. Their offering will complement motor and haulage solutions provided by experts within Cooke & Mason who have been a part of PIB since 2016, and Cooper Solutions who were recently acquired towards the end of 2019.
Together, these three businesses represent PIB’s development of a motor trade proposition which offers market leading expertise across the entire sector and covering commercial insurance, risk management, day rate insurance and software solutions.
RA Insurance Brokers also have “strong” expertise within the hotel and property owners’ sector, as well as domiciliary care, food, hospitality, marine and professional risks. All employees will remain with the business, led by Shamir Patel and Sunil Patel.
Shamir Patel, MD for RA Insurance Broker, said: “We’re very excited to be joining PIB Group. The integration of RAInsurance Brokers into PIB is a fantastic opportunity to further support our clients and staff.
“We have a lot to look forward to by becoming part of a wider Group, such as access to a broader range of products and services for the benefit of our clients, as well as investment in our people to enjoy long and fulfilling careers.”
Brendan McManus, CEO for PIB Group, added: “I’d like to give a very warm welcome to everyone at RA Insurance Brokers who bring further skills and expertise to complement our growing group. The rapid growth of our motor trade proposition is particularly exciting, and I’m delighted that PIB can provide clients with a real breadth of knowledge, experience and expertise across the motor sector.”