October 22 2025
PIB Group Iberia, a global insurance broker and the fifth largest in the Spanish market, continues to drive its growth strategy in Spain with the acquisition of the insurance agency and brokerage businesses of Grupo Bárymont.
Founded in 2010 and headquartered in Cantabria, Grupo Bárymont specialises in financial education and advisory services for unit-linked products, life insurance and pension funds, positioning itself as one of the market leaders in this segment in Spain.
Both the tied agency and the insurance brokerage units, which will be integrated into Conbenefits Previsión Social and PIB Group Iberia (brokerage) respectively, represent highly significant acquisitions for PIB Group Iberia.
They strategically strengthen the Group’s expertise in savings and investment products, consolidating PIB as the leading provider of such solutions in the Spanish market.
Bárymont’s financial education business, as well as its companies and main brand, will remain as an independent entity under a global collaboration agreement with PIB Group Iberia.
Martin Navaz, President and CEO of PIB Group Iberia, commented: “The acquisition of Bárymont marks a qualitative leap in our strategy. We are adding one of the most experienced teams in unit-linked products to the group’s tied agency, while also reinforcing our presence in key regions for our growth.”
Onno Janssen, CEO of PIB Group Europe, commented: “Spain is a priority market for PIB Group in Europe. The acquisition of Bárymont is a key step towards consolidating a network of highly specialised professionals, with strong local roots and a shared vision focused on the client and innovation.”
Emilio Montaraz, President of Grupo Bárymont, commented: “This alliance will exponentially boost our joint business and bring us closer to our goal of achieving the financial wellbeing of citizens, families and companies. Beyond ensuring the independence of our Education and Planning service, this partnership guarantees the best insurance solutions for our clients and the best professionals by our side. Having the support of Ruiloba Abogados throughout the negotiation process, as well as their legal and M&A advisory services, has been essential to the success of this agreement.”