PIB Group, a specialist insurance broker, is bolstering its footprint in the Dutch market by acquiring specialist insurer Risqwise.

The acquired firm is headquartered in Rotterdam, and it caters to medium-sized and large companies with a focus on commercial lines of business.

Risqwise’s team specialises in offering insurance solutions for four sectors – ICT, the legal profession, life science and pharmacy.

Martijn van Altenburg and Jasper de Regt founded Risqwise in 2007 whose scope of coverage extends into other European Union jurisdictions and the UK.

For PIB, the deal is part of its strategy to boost its existing operations in the Netherlands where it forayed by acquiring Light Insurance earlier this year.

PIB said Risqwise and Light Insurance will work together to create opportunities for PIB to acquire other brokers in the Dutch market. 

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PIB Group Europe CEO Onno Janssen said: “I am 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.”

Risqwise director Jasper de Regt 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.”

The deal is subject to regulatory approval. 

In August this year, PIB bought general insurance broker Mike Murphy Insurance to bolster its presence in Ireland.