Creane & Creane Ltd, a family-run insurance broker, represents another acquisition milestone for PIB Group Ltd (‘PIB’) who are set to accelerate their retail footprint in Ireland.
PIB has set sail again into Europe. This time through the acquisition of Creane & Creane, which is the first retail business on Irish soil that the Group has acquired. It is also the first of a number of broking businesses that are under consideration, as PIB intends to increase its reach in Ireland which will become a significant trading territory for further investment.
Brendan McManus, CEO for PIB Group commented: “I’m so pleased to extend the PIB arm around our new colleagues at Creane & Creane. This is a fantastic business with an amazing history, brilliant people and strong client base. It didn’t take us long to recognise the strength and brand presence that they have built over many decades, which made them an obvious choice for our first retail brokerage business in the Irish market.”
Newest members to PIB family
Creane & Creane is a family-run insurance broker providing commercial and personal lines cover to retail and business customers throughout Ireland. Creane & Creane was established in Enniscorthy in 1945, where it has been located since, making Creane & Creane one of the longest established brokers in Ireland. Over the years, the business has grown a strong brand presence and is known as one of Ireland’s most reputable insurance brokers.
The business was established by the late William Creane. Following his retirement, Michael Mahon took over the role as Managing Director and continued to grow and expand the company, helping it to where it is today. Michael’s son-in-law Tony Doyle is the current Managing Director, where his wife Olive and other family members are active in the business.
Together the 30-strong team of staff prides itself on offering quality insurance products at great value as well as delivering excellent service. This has in turn led to a high retention of customers, whose loyalty in some cases spans several decades including second and third generation clients.
Tony Doyle, Managing Director for Creane & Creane, commented: “I’m delighted to be able to say that Creane & Creane is part of PIB Group, which presents a very exciting opportunity to support their long-term growth plans in Ireland. We are extremely proud of our 75-year history, and our longevity is thanks to the steady support of our loyal clients and colleagues who we regard very highly. I look forward to continuing to work together throughout the next part of our journey.”
Long heritage, new era, same team
Creane & Creane therefore earns the title of the longest trading history in PIB. However, things remain very much business as usual. All employees will remain under the ongoing leadership of Tony and his management team. The Creane & Creane brand will also be retained.
Tony Doyle commented: “Our fantastic team has a genuine concern for our customers. We feel honoured that our customers come back year after year, and their loyalty is borne out of our commitment to provide a service that is second to none. Becoming part of a larger group was a big decision, and I’m very pleased to have found a new home through PIB who share the same values. Through PIB we will be able to pass further benefits onto our customers as well as our people.”
Professional connections
Along with their joint strategic goal to grow further in Ireland, the two businesses have a shared professional connection and long-standing relationship. Creane & Creane is one the largest clients of Citynet Insurance Brokers, which has been part of PIB Group since 2017.
Brendan McManus commented: “We’re delighted that Tony and the team at Creane & Creane felt comfortable coming into PIB Group, which we see as a real endorsement of our family mentality and the value of relationships that we’ve got. We want to focus on Ireland becoming a key territory for PIB, with ambitions to grow both our retail and wholesale footprint through further acquisitions. Creane & Creane are an obvious starting point to help us make a mark on the Irish retail market. We look forward to working closely with Tony and the team who have a great amount of energy to grow the business and take this on with us.”
Back to business
While the new team members settle into their new home, life goes on for PIB’s wholesale businesses Citynet and Optis Insurance, who trade in Ireland. They will continue to provide the high levels of support and service to their Irish broker-base as usual.
Meanwhile, PIB’s buoyant acquisition pipeline is paving the way for further expansion in the UK as well as deeper into Europe, where PIB already has a presence in Germany, Poland and Denmark. This is PIB’s fourth investment of 2021 in so many months, following on from Acquinex, Element Hinton (Insurance Brokers) Ltd, and UK & Ireland Insurance Services Ltd.