Specialist insurance intermediary PIB Group has finalised its purchase of Romanian corporate insurance broker SC CND International Insurance Broker SRL (CND).
CND was founded in 2002 by Magda Gales.
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The business has operated in Romania’s corporate insurance market for more than two decades, serving clients across a range of industries and developing strength in complex and specialist risk categories.
Gales said: “Becoming part of the PIB Group allows us to continue this journey while preserving what defines us and, at the same time, gives us access to international expertise, broader resources and new opportunities for growth. Our values remain the same.”
Construction and real estate form one of the company’s key focus areas, with the broker advising clients through each phase of property development – from acquisition and project financing through to construction and operational management.
Following completion of the deal, PIB Group’s headcount in Romania has risen to more than 25 staff, combining expertise in corporate insurance, construction, real estate and complex commercial risk.
Financial terms of the transaction were not disclosed.
The acquisition is PIB Group’s second in Romania following its purchase of STEIN Bestasig Insurance Broker in 2024, and extends the group’s existing presence in the country.
PIB Group Romania country CEO Dante Stein added: “This acquisition is an important step in our long-term strategy for Romania. We believe the Romanian insurance market offers tremendous opportunities, and we are committed to building one of the country’s leading specialist insurance brokerage groups.”
PIB Group Iberia also continued its push into the Iberian Peninsula in April, acquiring Portuguese brokers AQS Consultores de Seguros and Seguraz – Mediação de Seguros, both under common ownership.
The group also released its financial results for the year to 31 December 2025 in June, pointing to the strength of its underlying business model.
Revenue came in at $871.3m (£644.7m) for the year, up from £529.8m recorded in 2024.
