February 9, 2022
PIB Group Ltd (‘PIB’) is entering another year of successful acquisitive growth which is set to accelerate in 2022 and beyond, particularly across Europe.
In anticipation of those developments, changes at the top for PIB Group have taken place for Bernard Mageean, Adrian Colosso, and Andrew Walsh. Regulatory approval is pending for Tony Powis.
The moves aim to strengthen the Group’s corporate structure and governance as part of the next phase in its evolution in building a leading pan-European commercial insurance brokerage.
The specialist MGA known as Q Underwriting and PIB’s Schemes & Affinities division will continue to be led by Bernard as CEO. He will take on additional responsibility as Chairman for the two areas, ensuring continuity under his leadership for colleagues, carriers, customers and brokers until a natural transition arises to act solely as Chairman.
Bernard joined PIB in February 2016, bringing with him a strong background in underwriting and product development. His career spans a diverse range of roles from SME to major corporations, company to Lloyd's, UK to multinational and broker to MGA. Highlights in his tenure so far at PIB, includes the launch of Q Underwriting in 2019 which today boasts GWP of £124m and revenues of £29m.
Adrian, in addition to his role as Chairman of Citynet, will assume the role as Chairman of PIB’s Specialty division. Known externally as PIB Insurance Brokers, the division is home to PIB’s specialist lines brokers supported by inhouse claims handling and a risk management division. It is the largest division within PIB Group, GWP approaching £500m.
Since April 2018, Adrian has acted as Non-Executive Director for PIB Group. In his new role, he will bring his vast experience in the industry to play a bigger part in the management of PIB Insurance Brokers, working closely with CEO Steve Redgwell to continue its growth and development.
Andy has been promoted to CEO for Citynet, a leading wholesale Lloyd’s brokers in the UK. Andy’s role is focused on specialty difficult risks in Lloyds and London Market insurers. He brings a significant amount of experience to his role, having held a number of senior positions in his career spanning over 25 years, all of which have been gained while working within Lloyds and London Market.
His career with Citynet started in 2011 to head up the Motor Fleet Department, progressing rapidly while gaining a track record in delivering against ambitious growth, sales and service ambitions. In 2014 Andy was appointed to the Board of Directors and three years later he took on the role of Managing Director ahead of the acquisition of Citynet by PIB.
Tony has been appointed as Non-Executive Director (pending regulatory approval) for PIB Employee Benefits. His career spans over 30 years of financial services experience in the UK, international and global markets in a number of senior positions including financial services firms such as Willis Employee Benefits.
His proven track record in delivering growth and retention, along with experience in managing large acquisitions, align with the ambitions of PIB Employee Benefits to undertake a more global approach facilitated through the increased use of technology. The division has enjoyed rapid growth and development while delivering client-led, consultative solutions across the whole spectrum of employee benefits since its formation in 2016.
PIB’s recent acquisition trail has led to an increasing international footprint which covers retail, wholesale, reinsurance and MGA’s. Markets now include Ireland, Germany, Denmark, Poland, Spain and the Netherlands.
Further investment is planned for those existing territories and with new ones in sight as additional opportunities to support long term growth and diversification.
Brendan McManus, CEO for PIB Group commented: “I’m very excited about these executive changes, which reflect our proactive approach to being prepared for the next phase in PIB’s future. Their immense experience will support PIB’s continued evolution and rapid expansion plans, and help to take us to the next level.”