PIB Group has expanded its portfolio in Ireland with the purchase of Dublin-based broker Damus Acquisitions Holdings.
Financial terms of the transaction were not disclosed.
Damus comprises two commercial brokers- BHP Insurance based in West Dublin and South Dublin-based Keegan Meredith & Williams Insurances (KMW).
These businesses will become part of PIB’s Irish division led by Campion Insurance.
PIB snapped up Campion in November last year.
In August 2022, PIB further strengthened its Irish presence with the acquisition of general insurance broker Mike Murphy Insurance.
Campion CEO Jim Campion said: “This news further highlights our growing strength in the Irish market and also continues the strategy of developing our specialist insurance offerings for the benefit of our customers.
“We are fully confident that with the great collaboration already in place across our Irish businesses, BHP, KMW and the whole Irish group will continue to go from strength to strength.”
PIB and Campion plan to continue making significant investments in Ireland the coming year.
A not-for profit (NFP)-centric broker, BHP serves charities, community groups, social housing, as well as community employment schemes. The business has a workforce of 23.
KMW, which has seven employees, focuses on sports and general commercial insurance.
All these 30 employees will join PIB as part of the deal, increasing the firm’s headcount to 350.
The deal will also add two BHP offices.
Both BHP and KMW will retain their brands for the medium term, with staff continuing to operate out of their existing locations.
The current management team headed by Martina Westphal and John Williams will be retained.