May 25, 2023
PIB Group Limited (‘PIB’) has acquired ReSolutions sp. z o.o.,(‘ReSolutions’), a reinsurance broker based in Poland. It brings complementary services and expertise to PIB’s rapidly expanding European footprint and strengthens the reinsurance arm of its Polish brokerage business.
This is the fourth investment that PIB Group has made in Poland, following the successful acquisitions of WDB, Brokers Union and the Exito group of companies (Exito Broker, Eko Broker, ECRB), and alongside ECRB, ReSolutions will boost its growing reinsurance business, acting as an essential step in its international expansion.
PIB Group is a dynamic and diversified independent specialist insurance intermediary backed by private equity firms, Apax Funds and The Carlyle Group. Currently present in nine countries the Group places in excess of £2bn of Gross Written Premium. Mariusz Muszyński, CEO for PIB Group Poland and responsible for PIB’s consolidation strategy in the Polish brokerage sector commented: “By bringing ReSolutions’ experts into PIB Group in Poland, we will strengthen our reinsurance offering and add a boost to multi-company projects across the wider group. Our Polish brokerage business currently generates ca. PLN 400m in premiums and with PIB’s international presence our growing customer base can access the insurance market abroad to support their own growing international requirements. This applies to manufacturing, construction & assembly, and marine risks, as well as non-standard risks. The growth of the reinsurance business area will increase our ability to better protect the interests of our current domestic customers and prospects.”
Dariusz Kalinowski, CEO for ReSolutions commented: “Joining the PIB Group is an excellent step in the development of ReSolutions. I am glad that our well-established position on the Polish market as well as our knowledge and competences have been recognised and appreciated by PIB Group. I am convinced that joint activities focused on the expectations of clients and the capabilities of PIB Group will bring many benefits.”
ReSolutions’ decision to join the increasingly international structure of PIB Group is part of an ongoing strategy to consolidate the Polish insurance intermediary market. Clients from ReSolutions will benefit from a much broader range of leading insurance practices and solutions, access to the international insurance market, and a financially stable group.
Onno Janssen, CEO for PIB Group Europe, commented: “ReSolutions is an excellent addition to our PIB Group family, and their arrival moves us another step closer in our strategy to consolidate the Polish insurance intermediary market. The team brings deep expertise which further strengthens our vision to create a network of many local champions with great specialisms, broking expertise, and excellent service.”