Rapidly expanding specialist insurance intermediary PIB Group (PIB) is on a roll this year, acquiring specialist independent Lloyd’s broker Guest Krieger Limited (Guest Krieger), its second swoop this month.
Guest Krieger is one of the largest producers of Israeli financial lines, professional and general liability, tech and cyber liability, and political violence businesses in the London market. Additionally, it writes a highly profitable and growing portfolio of international specialty business in over 30 countries, mainly in Israel.
As part of the deal, Guest Krieger will continue to trade independently with the same brand name and be led by its managing director Alon Miller (pictured above) and his management team, all remaining invested in the company and working in its Cornhill offices.
“From our first meeting, PIB Group and their investors at Apax Funds stood out as people that shared our values and vision for the future of Guest Krieger. They were enthusiastic to join forces with us and offered us a real and exciting opportunity to realise our long-term expansion strategy. We are thrilled and proud to be joining the PIB team, and we are confident that with support from both PIB and Apax, we will continue our success story,” Miller commented.
PIB expects the acquisition to enhance its London market capabilities and gain a platform to handle London placements of specialty international wholesale business emanating from its growing international portfolio of niche insurance broking firms.
Commenting on Guest Krieger, PIB CEO Brendan McManus (pictured below) said the specialist insurance intermediary was impressed by its dominant market position and deep expertise in niche, high-growth lines and exceptional client base.
“Guest Krieger is a first-class business, and I’m absolutely delighted to welcome Alon and the entire team to PIB Group. It is a real accolade that they have chosen PIB as their destination for the next part in their long-term success story,” McManus continued. “Their deep understanding of the Israeli and the London market makes them a key differentiator, and what really tops off this fantastic new partnership is the fact that their culture and ethics are so aligned with those of PIB. We look forward to working with our new colleagues and supporting them in continuing to grow and thrive.”
The deal with Guest Krieger follows the acquisition of London-based Baily Garner (Health & Safety) Ltd (BGHS or Baily Garner HS), boosting PIB Risk Management’s headcount to nearly 80 team members.
