June 23, 2022
PIB Group Ltd (‘PIB’) has given another boost to its portfolio of Irish businesses, through the acquisition of Sullivan Insurances (Limerick) Limited (‘Sullivan Insurances’), pending regulatory approval. Their arrival reflects the pace at which PIB is rapidly expanding across the territory, having announced a week earlier that Fingal Insurance Group (‘Fingal’) had been brought into the fold.
Brendan McManus, CEO for PIB Group commented: “This is another fantastic moment for PIB Group, as we welcome everyone at Sullivan Insurances. For almost 40 years, their exceptional team has been helping to protect customers, their families and their businesses and grown into one of the leading Insurance Brokers in the Munster province. Barry, Ian, Michael and their experienced team will be a great fit to our growing presence in Ireland, which we have committed to becoming a key territory for investment.”
About Sullivan Insurances
Sullivan Insurances is a general insurance broker formed in 1983 by its founder Denis Sullivan. Headquartered for almost 40 years in the city of Limerick, the business has expanded over the years organically and through acquisition. It now has a presence across several counties with offices in Ennis, Nenagh and Athlone.
Today, Denis holds the position of non-Executive Director since handing over the reins to sons Barry and Ian Sullivan as Directors in 2009. They were joined by Michael Henchy, following a merger with Michael Henchy Insurance in 2018.
Denis Sullivan, Director for Sullivan Insurances commented: “We are thrilled that Sullivan Insurances is set to become part of PIB Group and can contribute to the Group’s growth in our market. This is an exciting moment in our heritage and success to date, which is testament to our talented people as well as our loyal customer base. PIB will be a great new home for us, and we were attracted to them because of their strength, scale and strategic vision. We look forward to being able to leverage the strength of our new network of peers and the wider PIB Group to bring additional benefits for our people and customers.”
The 34 strong team will continue to service their customers commercial and personal lines requirements from their four offices in Limerick, Ennis, Nenagh and Athlone.
Sullivan Insurances is the sixth retail investment that PIB has snapped up in Ireland. These have so far been predominantly family-run establishments with a long heritage and in some cases, boast several decades of trading experience behind them.
With the pipeline remaining strong, Campion Insurance is being established as the main platform for leading PIB’s acquisition, integration and growth efforts in the Irish market. Campion, which is one of the country’s largest insurance brokers joined PIB in November 2021, has experience in several successful joint ventures and acquisitions.
Jim Campion, CEO for Campion Insurance commented: “I’d like to give a very warm welcome to all our new colleagues at Sullivan Insurances. It has been a fantastic journey since Campion Insurance became part of PIB Group, and even more exciting to see our expansion plans come alive in Ireland. We’ve been spending time getting to know everyone in the PIB family here so we can build a strong proposition together. We look forward to welcoming in more excellent local brokerages like Sullivan Insurances, so that customers can access a broad range of products and excellent service in one place.”
Retail businesses now under the PIB umbrella in Ireland include Campion Insurance, Creane & Creane, Oliver Murphy Insurance Brokers, Alan Tierney & Partners, Fingal Insurance and Sullivan Insurances. Together, they have around 230 combined years of trading.