- PIB Group Iberia is expanding its operations in Spain with the acquisition of Privat Asesoramiento Correduría de Seguros S.L., strengthening its growth in the Spanish market.
PIB Group Iberia has expanded its operations in Spain through the acquisition of Privat Asesoramiento Correduría de Seguros S.L.
The Barcelona-based brokerage is the seventh to join PIB's growing Spanish portfolio, just two weeks after acquiring Fidentia Hispana Correduría De Seguros, S.L. Both deals are pending the usual approval from the Spanish regulator.
PIB Group Iberia is an independent, dynamic and diversified specialist insurance intermediary. The Group has grown rapidly in the UK and Europe through the acquisition of exceptional businesses, while remaining focused on driving organic growth. It is committed to fulfilling its ambition to build a significant pan-European diversified specialist insurance distribution business.
Privat is a highly reputable Spanish insurance broker offering life and non-life products to SMEs and individual clients. For the past 30 years, the company has offered customers a wide range of products, with a particular focus on accident, liability and home insurance. CEO Xavier Solá Castel will continue to lead the business and the remaining employees will provide the same level of service to its loyal customer base.
Martin Navaz, CEO of PIB Group Iberia, commented: “I am very excited to welcome another excellent business to our Spanish division within the PIB Group. The addition of Xavier and our new colleagues at Privat expands the growing range of products and propositions we can offer to new and existing clients. Their expertise brings us one step closer to providing clients with access to everything they could possibly need through PIB Group Iberia, whilst allowing us to leverage the collective strength and scale of the Group for international solutions.”
Xavier Solá Castel, CEO of Privat, he added: “On behalf of everyone at Privat, we are delighted to be joining PIB Group Iberia and bringing our expertise in accident, liability and home insurance. I would like to thank all our employees and clients who have contributed to our growth and success over the past 30 years. We look forward to many more years together, which will benefit everyone, including investment in our people, who will be able to enjoy further learning and development to support their career paths.”
As part of the Group, Privat will be able to leverage PIB's strong relationships with insurance companies and existing products and services to continue to build on its success.
PIB has ambitious international expansion plans. Throughout 2023, it will continue to concentrate efforts and make significant investments in specialised businesses and teams in Europe that are complementary to and benefit from the products and expertise elsewhere within the Group.
Onno Janssen, CEO PIB Group Europe, He added: “The acquisition pipeline across Europe is very healthy, and our activity in the Iberian Peninsula is no exception. This latest addition through Privat underlines our focus on unlocking the European market by expanding our existing footprint. We are attracting specialist brokers on a month-to-month basis and expect to announce updates on this very soon. The teams are also focused on organic growth, ensuring we better serve clients across borders and needs. At the same time, we are moving forward with plans to enter more new markets and become a global champion based on trust and collaboration.”
