London-headquartered PIB Group continues its European expansion with three acquisitions in Spain.
Joining the growing insurance intermediary are Aguirre Vila-Coro Correduría Seguros (AVC), Grupo IDDEAS, and Javier Sánchez Consultores (JSC). Grupo IDDEAS consists of Lansegur Correduria de Seguros, Noceda Corredores, and Instituto de Desarrollo Asegurador.
PIB, which has now made a total of 11 acquisitions in Spain, has also legally incorporated PIB Group España.
“2023 was a year of expansion, and these acquisitions and the incorporation of PIB Group España mark important milestones in our continued growth in the region,” PIB Group Iberia chief executive Martín Navaz said in a release.
“We have been impressed with the leaders of AVC, Grupo IDDEAS, and JSC, as well as their talented teams. We are confident they will complement PIB Group España effortlessly, both culturally and professionally.”
It was noted that AVC, Grupo IDDEAS, and JSC all have strong financials, extensive client bases, and solid operating practices.
Since the start of 2023, PIB has completed 18 deals across Europe. Formed in 2015, the UK business is backed by Apax Funds and The Carlyle Group.
“Throughout the year we have been investing in some great businesses and working hard to establish PIB in Europe as a market-leading insurance specialist,” PIB Group Europe CEO Onno Jansen noted.
“New colleagues and capabilities bolster our service provision and are an essential part of our growth strategy. We are confident that 2024 will see the group’s continued expansion across Europe.”
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