PIB Group has today announced its second Irish retail acquisition – that of the Waterford-based Oliver Murphy Insurance Brokers, pending customary Irish regulatory approvals.
The deal comes five months after PIB’s acquisition of Creane & Creane, one of the longest established insurance brokers in Ireland. At the time of the deal, PIB highlighted that it was the first of several broking businesses under consideration as part of its broader strategic plan to become the leading independent insurance broker in Ireland.
Founded in 1996 by the father and son team, Oliver Murphy (Senior) and Oliver Murphy (Junior), Oliver Murphy Insurance Brokers is a regional personal and commercial lines insurance broker offering clients an extensive range of insurance solutions and services across commercial, personal lines and financial planning advice. The business is a member of the Brokerline Direct (BLD) network which further enhances its product offering for clients.
Commenting on the deal, Oliver Murphy (Junior), MD of the firm said he is delighted that the business will become part of PIB Group and help build PIB’s presence in Ireland. He said the team was attracted to the group due to its business model and diversity, and that they look forward to leveraging PIB’s strength and resources to the benefit of their clients.
“I’d like to say a massive ‘thank you’ to our fantastic people and loyal customers who have helped to build the successful business that we are today,” he said, “and I look forward to continuing those strong relationships for many more years to come.”
Meanwhile, Brendan McManus, CEO for PIB Group, gave a warm welcome to PIB’s future colleagues at Oliver Murphy Insurance Brokers. He noted that the team had established “a brilliant business”, a strong reputation and excellent growth credentials, which served to make them a great addition to PIB Group.
“This is another boost to our ambitions to make Ireland a key territory for PIB where we intend to grow our retail and wholesale footprint through further acquisitions,” he said. “I look forward to supporting further growth and success for everyone at Oliver Murphy.”
