PIB Group has acquired Optis Insurances Limited, a Managing General Agent based in Ireland servicing the Irish SME sector. This is the 19th acquisition made by PIB and forms part of its European growth plans.
Established in 2008, Optis operates as a Managing General Agent for a number of A rated insurers. The business has grown rapidly and provides a suite of combined liability and commercial combined packaged products for sectors including construction, retail, hospitality, property owners, manufacturing and distribution.
Products are distributed through a proprietary online platform solution, providing instant quotes as well as the ability to transact and obtain cover immediately. The online solution saw Optis pave the way as one of the first online businesses to distribute these types of products in the Irish marketplace.
The existing management team will continue to lead the business going forward.
Olivier Rodriguez, Director of Optis, commented: “The last ten years have been exceptional thanks to the ongoing support of our customers and insurers. We are looking forward to joining PIB and pursuing opportunities that will enable us to meet our ambitions of becoming the leading independent portal for the distribution of insurance products to Irish intermediaries.”
Brendan McManus, CEO of PIB, commented: “I’m delighted that Optis are joining PIB for this important milestone. Optis has experienced excellent growth over recent years, which is testament to the high-quality organisation, reputable underwriting partners and a loyal customer base built by the Optis team. The offering provided by Optis will further enhance our business and I look forward to investing in their continued success in their current market and beyond.”
Looking ahead, McManus said that while Brexit-related preparations were underway for the group, acquiring Optis was part of its longer-term growth strategy. McManus continued: “Preparations have been made that will allow us to operate in Europe. No matter what the future holds, PIB is committed to meeting the ongoing needs of our customers.”