Pending regulatory approval, the acquisition will allow the group to take its first step into the Dutch market.
PIB is a specialist insurance intermediary which is backed by private equity firms, Apax Funds and The Carlyle Group.
Meanwhile, Light Insurance specialises its core product offerings towards healthcare, income protection and commercial insurance.
The move reportedly creates further opportunities for PIB to acquire other brokers in the territory, “reflecting the group’s ambition to build a leading pan-European commercial insurance brokerage”.
Brendan McManus, CEO for PIB Group, said: “I look forward to working with Ronald van de Laar who will continue to drive the business forward through organic and acquisitive growth in The Netherlands, supported by a highly experienced executive team.”
James Harmer, head of European M&A for PIB Group, added: “This is another fantastic milestone for PIB Group and marks our first step into the Dutch market, and builds on the transactions we have announced recently in Ireland and Spain, as we continue our expansion across Europe.
“This is the first of many acquisitions we have planned in the Netherlands and the wider Benelux region, and our aim is to build one of the largest client focused insurance brokers in these markets.”