No threat for the new wave of insurance broking “consolidators” says PIB’s Brendan McManus

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PIB Group CEO Brendan McManus features in a recent article by S&P Global on the current takeover activity in the UK insurance brokers market from a new wave of “consolidators” – groups that exist to buy large volumes of smaller brokers. The article entitled: ‘UK insurance broker M&A spree surges on despite headwinds, examines the potential threats to the takeover activity including funding, the threat of start-ups and availability of business suitable for acquisition.

However, Brendan McManus explains that funding from private equity market is simply not an issue: “we could have funded it (the business) several times over” and that although the number of business suitable for acquisition is plentiful, it is constrained as there has not been the influx of new business and start-ups that was expected.

The takeover activity in UK insurance broking certainly shows no signs of abating in the foreseeable future.