PIB Group (‘PIB’) has acquired Optis Insurances Limited (‘Optis’), a Managing General Agent based in Ireland servicing the Irish SME sector. This is the 19th acquisition made by PIB and forms part of its European growth plans.
Established in 2008, Optis operates as a Managing General Agent for a number of A rated insurers. The business has grown rapidly and provides a suite of combined liability and commercial combined packaged products for sectors including construction, retail, hospitality, property owners, manufacturing and distribution.
Products are distributed through a proprietary online platform solution, providing instant quotes as well as the ability to transact and obtain cover immediately. The online solution saw Optis pave the way as one of the first online businesses to distribute these types of products in the Irish marketplace.
The existing management team will continue to lead the business going forward.
Olivier Rodriguez, Director of Optis, commented: “The last ten years have been exceptional thanks to the ongoing support of our customers and insurers. We are looking forward to joining PIB and pursuing opportunities that will enable us to meet our ambitions of becoming the leading independent portal for the distribution of insurance products to Irish intermediaries.”
Brendan McManus, CEO of PIB, commented: “I’m delighted that Optis are joining PIB for this important milestone. Optis has experienced excellent growth over recent years, which is testament to the high quality organisation, reputable underwriting partners and a loyal customer base built by the Optis team. The offering provided by Optis will further enhance our business and I look forward to investing in their continued success in their current market and beyond.”
Looking ahead, McManus said that while Brexit-related preparations were underway for the group, acquiring Optis was part of its longer-term growth strategy. McManus continued: “Preparations have been made that will allow us to operate in Europe. No matter what the future holds, PIB is committed to meeting the ongoing needs of our customers.”
About PIB Group
PIB Group is a dynamic insurance intermediary group aiming to create a leading position in the provision of specialist insurance solutions across the UK market and beyond. Launched in 2015, PIB has grown rapidly through acquisitions and by employing outstanding individuals with a wealth of knowledge and experience in the insurance market.
Businesses within the group structure include: PIB Insurance Brokers, Cooke & Mason, PIB Risk Management, Fish Insurance, Channel Insurance Brokers, QPI Legal, Thistle Insurance Services, Thistle Underwriting, TFP Schemes, DE Ford, Franklands, Morton Michel, aQmen Underwriting, Citynet Insurance Brokers, Lorica Insurance Brokers, Wilby, Lincsafe, i2 Healthcare, Albany Childcare, Wheatley Wright and Optis Insurance. The Group offers a range of specialist teams, products and services to clients throughout the UK, Channel Islands and Ireland. For more information visit www.pibgroup.co.uk.
About Optis Insurance Ltd
Optis Insurance was founded in 2008 and has developed a unique technology platform for the Irish insurance marketplace, allowing the cost-effective distribution of insurance products on behalf on insurers. Optis operates as a Managing General Agent for a number of A rated insurers and is focused on the broker community servicing the SME sector in Ireland. The business provides a suite of combined liability and commercial combined packaged products for sectors including construction, retail, hospitality, property owners, manufacturing and distribution. www.optis.ie
Tel: 0203 961 7644