UK-based PIB Group has acquired Irish general insurance broker Mike Murphy Insurance to expand operations in the country.
The insurance intermediary, which is based in Dublin, deals in three speciality areas.
Its commercial lines arm is focused on providing general business insurance for SMEs, corporate clients, tradesmen and motor fleet risks.
The family-run broker’s personal lines division is made up of private motor, household, commercial motor and travel risks.
The life arm is engaged in providing mortgage protection, income protection, and pensions to both individuals and corporate clients.
Mike Murphy Insurance also serves as the broker for the Irish Road Haulage Association.
The takeover marks PIB’s Irish seventh retail investment.
Mike Murphy Insurance will join PIB Group’s Irish portfolio of companies that presently comprises Campion Insurance, Creane & Creane, Oliver Murphy, Alan Tierney & Partners, Fingal Insurance and Sullivan Insurances.
Campion Insurance CEO Jim Campion said: “I am absolutely delighted to welcome Mike and all the team at Mike Murphy Insurance who are another great addition to PIB and our growing footprint in Ireland.
“Their arrival further strengthens our existing group of highly experienced experts to provide our customers with an increasing range of products and services.”
Mike Murphy, who heads the firm, established Mike Murphy Insurance that commenced trading in 2013.
Murphy said: “Becoming part of PIB Group is an exciting moment for everyone at Mike Murphy Insurance. “We look forward to continuing our strong customer relationships in this exciting new chapter in our growth journey, and bringing them further benefits through the strength of being part of a bigger group.”