PIB Group has snapped up Erskine Murray Insurance Brokers, a Leicester-based business that was established as an independent commercial lines broker.
The deal consideration was not shared.
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The deal marks PIB’s largest purchase so far in 2020 by staff strength.
As part of the deal, PIB will absorb the entire workforce of Erskine Murray. This includes 90 employees operating out of Leicester, Ellesmere Port, Houghton Regis and Wakes Colne, as well as field-based account executives.
Currently, PIB’s employee strength is nearly 1400.
Referring to the acquired business, PIB CEO Brendan McManus said: “This represents a strong strategic fit thanks to a range of complementary attributes including their core lines of business, focus on clients and excellent service, and investment in people.
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By GlobalData“While their geography will see our national footprint expand further, clients of Erskine Murray can continue to enjoy a professional, local and friendly service while accessing extra capability from the broader Group offering.”
Set up in 2012, Erskine Murray focuses on Corporate and Commercial, specialist SME, HNW and private clients.
It also offers value-add services including risk management, employee benefits, along with inhouse claims handling service.
Erskine Murray CEO Tom Bartleet said: “With PIB’s investment, we look forward to meeting the growing aspirations of our clients and colleagues by building upon our growth, skills and reputation to take our business to the next level.”
Established in 2015, PIB serves clients across the UK, Channel Islands, Ireland and Germany.
The latest deal comes close on the heels of PIB’s takeover of Arlington Insurance Services.
Other PIB deals
PIB has been on a buying spree lately. In August this year, the firm acquired corporate chartered insurance brokerage Rigton Insurance Services.
In June 2020, PIB snapped up Munich-based Marx Re-Insurance Brokers.
This February, PIB acquired BK Insurance Brokers – an independent brokerage based in Croydon, Surrey.
