Business

PIB Group continues European expansion

PIB Group has acquired WDB, a leading independent insurance broker in Poland, as part of its growing European expansion into the country and the wider CEE region.

WDB was founded in 2007 and has seen “rapid growth” in its 13-year history, primarily driven through acquisitions.

This is the insurance group’s third European business, joining Marx Re-Insurance Brokers in Germany and Optis Insurance, a managing general agent in Ireland.

Brendan McManus, CEO of PIB Group, said: “I’m really excited to announce the acquisition of WDB and welcome our new colleagues to PIB Group. This is a very exciting step forward for our expansion into Europe.

“With support from PIB, the WDB management team led by CEO Mariusz Muszynski intends to widen its product base to drive organic growth as well as acquire similar professional insurance brokers in Poland, and potentially the wider CEE region.”

He added: “Their entrepreneurial approach, collaborative culture and track record of growth along with excellent client service makes the team a great fit with PIB. I look forward to seeing their plans come to fruition over the coming months.”

Maruisz Musznski CEO of WDB, said: “The investment of PIB Group in our company is a great endorsement of the chosen development strategy. From the very beginning, at WDB, we have focused on organic growth by expanding both the client portfolio and the insurance solutions offered.

“The successful acquisitions we have had on the Polish brokerage market mark another area in which we intend to pursue our potential. For us, joining PIB Group means, above all, access to specialist knowledge and capital, which will allow us to play an important role in the consolidation of brokerage markets in Poland and the CEE region.”

He added: “Joining one of the largest independent insurance brokers in Europe also means exposure to international solutions and best brokerage practices.

“This is another breakthrough moment on our business path. We are very happy to start collaborating with our new colleagues from PIB Group.”

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