PIB Group Ltd has expanded its footprint in the Dutch markets. PIB, which is backed by private equity firms Apax Funds and The Carlyle Group, has acquired Risqwise B.V. (pending regulatory approval).
Risqwise is a specialist in providing insurance solutions for medium-sized and large companies. The Rotterdam based business concentrates largely on commercial insurance broking and boasts a number of specialisms.
Onno Janssen, CEO for PIB Group Europe commented: “I’m delighted to welcome Risqwise who are an excellent addition to our PIB Group family. Their arrival moves us another step closer in delivering our ambitions to expand in the Netherlands and more widely across the Benelux region and Europe. The team brings with them deep expertise, which further strengthens our vision to create a network of many local champions with great specialisms, broking expertise, and excellent service.”
About Risqwise
Founded by the directors, Martijn van Altenburg and Jasper de Regt in 2007, the business is headquartered in Rotterdam.
The team primarily focus on mid-to-large corporate’s, however their scope of coverage extends into other EU jurisdictions and the UK. The team specializes in insurance solutions for four sectors being ICT, legal profession, life science firms and pharmacies.
Martijn van Altenburg, Director for Risqwise, commented: “We are very happy to be joining the PIB Group family. This is a really exciting time as PIB brings to life its international strategy which enables us to become part of an expanding network and extend our reach beyond the Netherlands. We are very proud of the specialisms that we can bring to help create further growth for PIB. We look forward to collaborating with more specialist across the Group.”
The firm has mainly grown organically, reflecting the excellent reputation and deep client relationships in place. Their specialisms also reflect many years of personal experience and a desire to remain focused on a small number sectors, in order to deliver an exceptional service to clients.
Partnering up
The Dutch market is important to PIB as it is the sixth largest commercial insurance market in Europe and the Group is determined to build a significant presence in the Netherlands. The new arrival of Risqwise will therefore boost an existing presence in the country through Light B.V. who were PIB’s first step into the Dutch markets earlier this year marking the start of the Group’s consolidation strategy in the Netherlands.
Jasper de Regt, Director for Risqwise, commented: “Partnering up with a larger organisation through PIB and with the specialist broker Light brings additional benefits and resources. We will have more buying power under the PIB brand, and our new home opens up new avenues and the ability to handle larger projects and work with more people to help us to continue growing Risqwise. Importantly, we have already enjoyed early engagement with some of our new colleagues. We have been impressed by their high levels of motivation and commitment as PIB actively encourages everyone to retain their entrepreneurial spirit rather than create one big standardised organisation.”
Risqwise and Light Insurance are all set to work closely to create further opportunities for PIB to acquire other brokers in the territory, reflecting the Group’s ambition to build a leading pan-European commercial insurance brokerage.
Ronald van der Laar, CEO for Light Insurance, commented: “I am thrilled that Risqwise have become part of PIB Group who represent our first step of fulfilling our consolidation strategy in the market. This is a great opportunity to partner up with Martijn and Jasper who are highly specialized in their core product offerings. Their location in Rotterdam builds on our presence in Amsterdam and Eindhoven, so we can extend our cover to most of the Netherlands, and leverage PIB’s strength and reputation to drive further growth."