PIB Group acquires RS Insurance Brokers

PIB Group, the specialist insurance intermediary has acquired Nottingham-based RS Insurance Brokers, adding RS’s expertise in Fleet and Professional Indemnity in particular to its portfolio of specialisms.

From what Reinsurance News understands, eight people will be moving into PIB from RS.

RS’s owner and Managing Director, Karll Smith, said that selling his 45-year-old family business – which he’s owned for two decades – was made easier by what PIB was offering.

He explained: “One of the selling points for PIB is that I will get to do full time the best bit of my job, which is to go out and win business and make new relationships with clients. We had multiple offers and PIB’s terms were the best for everybody involved.”

“I get to keep running the business the way I run it now and I get to grow it as fast as I can. Because winning a deal and servicing clients is what gives me a great buzz and being part of PIB means I can focus 100% of my time on clients with access to bigger markets,” he continued.

It was also confirmed that PIB was attracted to RS because of the company’s client-centric approach, while Karll and his team will strengthen the group’s footprint across the Midlands region.

Charlie Upton, PIB Insurance Brokers’ Regional Managing Director for North East and East Midlands, commented: “I’m delighted that Karll chose PIB to invest in his business and join our growing success story. As a remarkable leader, he will have the chance to elevate his business to new heights with the investment that comes with an acquisition like this.

“At PIB, we are committed to empowering entrepreneurs to pursue what’s best for their business while benefiting from the strength of our ecosystem. This includes leveraging our scale, fostering group-wide collaboration, and having their back-office processes seamlessly managed.”

Earlier this year, PIB Group expanded its presence in Central and Eastern Europe with the acquisition of Nord Group, a provider of risk management, insurance and reinsurance solutions in Poland.

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