PIB Group (PIB) has today announced it has bought 100% of the shares of aQmen Holdings Limited, the holding company of the aQmen underwriting group. The deal is the 11th investment made by PIB in 17 months, and follows its two recent acquisitions of Franklands and Morton Michel.
Based in Leatherhead, aQmen is a Managing General Agent (MGA) providing specialist insurance policies for three niche market sectors: charities and social enterprises, faith-based organisations and recruitment agencies. aQmen has been serving these markets for ten years and has delegated underwriting authorities from leading insurers.
The move reflects PIB’s continued focus on specialist insurance market expertise, strong personal relationships and client service excellence. It will also enable aQmen to continue its strong growth agenda. Managing Director Nick Rudnai and the management team will continue to lead the business following the completion of the deal.
Nick Rudnai, Managing Director of aQmen, said: “Being acquired by PIB is a fantastic endorsement for aQmen and our team will continue to support brokers and clients to achieve success in our specialist sectors. It’s clear to me that PIB can help us grow and improve our offering, and I am looking forward to aQmen playing its part in helping realise the Group’s exciting plans.”
Brendan McManus, CEO of PIB, commented: “Our five-year strategy is to deliver significant organic and acquisitive growth, including strong underwriting driven MGAs and binder management. I am extremely pleased that aQmen is joining the PIB Group. They are leaders in the charity and faith sectors with an excellent brand which PIB looks forward to supporting over the coming years.”