PIB Group Ltd (PIB) has today made a key addition to its Specialty division, announcing its acquisition of St Giles Holdings (Number 2) Limited and St Luke Underwriting Limited - together “St Giles”.
Founded in 1972, St Giles is an independent brokerage specialising in residential property insurance. The firm, which focuses on arranging property owners’ insurance and directly related covers for a chosen segment of managing agents and a small number of property owners, serves approximately 850 clients operating out of office in London, Liverpool and Ringwood.
In a Press release, PIB noted that St Giles has crafted ‘strong and enduring relationships’ with nearly 100 insurers and boasts a dedicated in-house claims team. The acquired business has grown organically during its 51 years of trading and is set to continue this trajectory of growth as part of PIB.
Directors Andy Coulson and Monica Hubbard will become investors in PIB and remain at the helm when the team joins PIB’s Specialty division, which is home to its specialist commercial lines brokers.
Commenting on the news, Steve Redgwell PIB Specialty division CEO welcomed everybody at St Giles to the group.
“We are delighted to have such a specialist niche business join the Specialty division in PIB Group,” he said. “Malcolm, Andy and Monica have done an incredible job in growing the business over the years and I have no doubt that growth will continue with PIB. Their reputation exceeds them in their market and their passion and expertise are an obvious attraction for PIB. We look forward to having the team on board and the new opportunities their business will bring for the group to further bolster our existing products and services.”
Directors Coulson and Hubbard also commented on the news expressing their delight at becoming part of PIB. Choosing PIB was an easy decision, they said, as the business reflects the values of the St Giles team and represents, “the perfect fit”.
“We’d like to say a very big thank you to our fantastic team who have been loyal over the years and who have been instrumental in our continued success,” the directors added. “Our team remains integral to our future and providing the same excellent service our customers have enjoyed over the years. We would also like to take this opportunity to wish Malcolm Gordon well as he retires from the business.”
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