PIB Group is expanding its Polish operations by acquiring Nord Group, subject to regulatory approval.
Manned by around 250 people across Nord Partner, Nord Re, and Nord Serwis, Nord Group has been providing risk management, insurance, and reinsurance solutions to public sector entities, financial institutions, construction, industry, energy, chemical, transport, and healthcare sectors since 1998.
“We are pleased to join PIB Group, an independent insurance brokerage group,” Nord Partner management board president Krzysztof Bromka commented. “With a similar culture and a full understanding of the role of an insurance or reinsurance broker, we can collaborate with top experts in other countries.
“Through PIB, we will also gain greater access to international insurance and reinsurance markets, enabling us to provide our clients professional support in protecting their interests, resources, and investments.”
PIB’s new Polish swoop is part of the company’s long-term strategy to increase its Central and Eastern European presence. It expanded into Poland in 2020 by acquiring WDB and has since added Transbrokers.eu, Brokers Union, Exito Group, Equinum Broker, ReSolutions, and Asist to the mix.
“The addition of Nord Group companies to PIB Group is a tremendously important milestone in the development of our brand,” PIB Group Poland chief executive Mariusz Muszyński declared. “This strengthens our position in the Polish insurance market.
“Nord Group, with its rich history and outstanding team of experts, brings enormous experience and an innovative approach to risk management, insurance, and reinsurance to PIB Group. We look forward to working with Krzysztof Bromka and his team.”
Meanwhile PIB Group CEO Brendan McManus (pictured) had nothing but nice words for the purchased brokerage.
“What we’ve acquired is a market-leading business with fantastic leadership and a talented, hard-working team,” he stated. “We’ve been very impressed with Nord from the outset, and we’re very happy they are becoming part of our group.
“Nord can help us offer our clients an even greater range and depth of specialist expertise, and the wider PIB Group can help Nord build on its impressive track record.”
What do you think about this story? Share your thoughts in the comments below.
