PIB Group has announced the acquisition of Pure Risks Limited, an independent specialist professional indemnity (PI) insurance broker based in Bristol. The move is expected to strengthen PIB’s specialty division.
Pure Risks was founded by Jonathan Bogan in 2012. Over the past 10 years, it has built a nationwide client base by placing PI business for financial planners, architects, engineers, chartered surveyors, and other regulated and non-regulated professions.
Bogan, who is currently the director of Pure Risks, expressed excitement about the opportunities presented by the acquisition and called it an “exciting step” for the company.
“We look forward to the many opportunities ahead to leverage the expertise and scale of PIB, and also bringing our complementary skills to the ongoing success of the specialty division,” Bogan said. “I’d like to say a big ‘thank you’ to our loyal client-base and our insurer partners for their brilliant support in making Pure Risks the business it is today.”
Carlo Marelli, managing director of PIB’s southern specialty division, welcomed Pure Risks to the PIB Group and stated that the team's “knowledge, expertise, and passion for servicing clients will be a real credit to us.”
“The team’s presence in Bristol will give an extra boost to our regional footprint and expand our client base, while providing them with access to an even broader range of products and services across our PIB Group family,” Marelli added.
The deal with Pure Risks builds on the momentum of PIB Group’s continued growth strategy. The group has completed several acquisitions in recent years, including 33 businesses across Europe in 2022 alone.
Last month, PIB announced its acquisition of Spanish broker Vetop Internacional, which serves international corporate clients across 20 markets.
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