Geographic expansion has proven a key element of PIB Group’s strategic development in 2022 and today the group has revealed the acquisition of its seventh retail business in Ireland – Mike Murphy Insurance.
The acquired business is a family-run insurance brokerage based in Sandyford, Dublin which operates two core business units of commercial and personal lines, in addition to some life and pensions income. The award-winning broker, which started trading in 2013, boasts a team of 23 staff and is led by Mike Murphy who has over 50 years of insurance experience.
Commenting on the deal, Murphy said that becoming part of PIB Group is an exciting moment for the Mike Murphy Insurance team and that he is “immensely proud” of the tireless work of his team in providing top-class customer service.
“We look forward to continuing our strong customer relationships in this exciting new chapter in our growth journey,” he said, “and bringing them further benefits through the strength of being part of a bigger group.”
As per the terms of the deal, Mike Murphy Insurance will join PIB’s portfolio of businesses which currently includes Campion Insurance, Creane & Creane, Oliver Murphy, Alan Tierney & Partners, Fingal Insurance and most recently Sullivan Insurances. In a Press release, PIB noted that, together, the network is focused on deepening its relationship to create a solid proposition and leverage its combined strength for the benefit of customers in the Irish market.
Going forward, the teams will look to support each other, utilising the experienced management team at Campion Insurance who are leading PIB’s growth efforts across Ireland – a key territory for the group.
Jim Campion, CEO of Campion Insurance, also commented on the deal and said: “I’m absolutely delighted to welcome Mike and all the team at Mike Murphy Insurance who are another great addition to PIB and our growing footprint in Ireland.
“Their arrival further strengthens our existing group of highly experienced experts to provide our customers with an increasing range of products and services. We look forward to working with all our new colleagues and continuing to build out our expansion strategy in the Irish market.”
