January 24, 2022
PIB Group Ltd has grown again in Ireland to mark the start of 2022. Alan Tierney & Partners Ltd earn the title of PIB’s fourth retail acquisition in the territory. The arrival of the insurance broking and financial planning firm (pending regulatory approval) to PIB is another reminder for the Group’s sights that are set on Ireland as part of its rapid international expansion strategy.
Brendan McManus, CEO for PIB Group commented:
"What a great way to start the new year by giving a very warm welcome for everyone at Alan Tierney & Partners to PIB Group! They join our growing arsenal of leading brokerage businesses who will play a significant part in our journey in Ireland. For over forty years, Tierneys has grown a loyal client base who hold the business in high regard, which is testament to the team’s excellent service and relationships with insurers. I’m delighted that PIB has become the new home for this excellent business and we look forward to investing in their ongoing success."
About Alan Tierney & Partners
Formed by Alan Tierney in 1979, Alan Tierney & Partners is a retail commercial insurance broker and a financial planning firm. The business boasts a specialism in hospitality and leisure industries, in particular the pub sector.
Its headquarters in Dublin therefore provide a prime location for its niche, providing insurance solutions to the pubs in the city and surrounding counties. The team is held in high regard and widely accepted as experts with over thirty years of experience in this field. Today the team of twelve is led by Alan’s son, John Tierney.
John Tierney, MD for Alan Tierney & Partners commented: “I am delighted that Alan Tierney & Partners has joined PIB Group, which is an exciting moment in our forty year history. This is a fantastic opportunity to align with an established group and we are especially proud to bring our expertise to their expansion journey in Ireland. We look forward to collaborating with our new colleagues across the country as well as the wider PIB family."
Having enjoyed significant growth over the years, Tierney's has earned a reputation as one of the best regarded brokerages in the country. They are authorised to place business with a wide range of domestic insurers as well as having strong relationships within the London/Lloyds based markets.
Business as usual
Following regulatory approval, it is business as usual for clients and staff alike, many of whom are longstanding. The Tierney management team and their highly qualified colleagues will continue to provide expert commercial insurance, personal insurance and financial planning services to their diverse client base including large corporates, SME's and individuals.
John Tierney commented: "It is an exciting prospect to be able to leverage the strength and stability of PIB. Our customers and colleagues have been the cornerstone of our success over the last forty years and we look forward to the opportunity to pass on the benefits of our relationship with PIB to them."
PIB has enjoyed a wholesale presence in the country since acquiring MGA business Optis Insurance in 2019, working closely with London market business Citynet who service an Irish broker-base. Two years later, PIB made its mark on the retail Irish market starting with Creane & Creane in 2021. At the time, it was stated that Ireland would become a key territory for PIB. The acquisitions of Oliver Murphy and Campion Insurance followed in quick succession towards the end of 2021.
Tierney is therefore PIB’s fifth investment in Ireland. As PIB enters its seventh year in existence, 2022 is set to be another exciting one as the Group continues its acquisition trail and international expansion. More new territories are expected to be added to PIB’s current footprint across the UK, Channel Islands, Ireland, Germany, Poland, Denmark, Spain and the Netherlands.