February 17, 2020
PIB Group Limited (‘PIB’) has invested in its 26th business with the acquisition of BK Insurance Brokers, an independent brokerage based in Croydon, Surrey.
Established in 1981 with trading history as far back as 1970, BK Insurance Brokers provides insurance solutions to the Property, Corporate, Private Clients and SME sectors. The business has recorded continuous growth and has access, partner or scheme status with over 100 different insurance markets, and arranges over 10,000 policies every year.
All the existing team will remain, including Paul Denton who will lead the business as Managing Director. Shilpesh Patel will provide oversight and support during integration into the Specialty division of PIB, which is home to the Group’s specialist commercial lines brokers.
Shilpesh Patel, MD for BK Insurance Brokers commented: “Since our formation almost 40 years ago, BK Insurance Brokers has enjoyed providing bespoke insurance solutions to meet the needs of our clients. Joining PIB Group is a great opportunity which enables us to continue with our growth ambitions, while playing our part in helping the Group to meet its long-term ambitions. We are looking forward to being part of a wider Group and working with an extended network of experts for the benefit of our clients and our people.”
Brendan McManus, CEO for PIB Group commented: “I’d like to give a very warm welcome to everyone at BK Insurance Brokers who join us at the start of another exciting year at PIB. We spend a lot of time looking at specialist businesses in the market with a strong growth story, and enjoy meeting people or teams that inspire us and who we feel would get on well with everyone within the Group. We look forward to collaborating with our new colleagues to open up our specialisms for the benefit of their clients. Likewise, Shilpesh and his team will complement and further strengthen our broad range of products and services across the Group.”
Looking ahead, the pipeline remains strong for PIB as the Group is set to continue growing through acquisition and organically, including the beginnings of an international expansion.