PIB Group, the specialist insurance intermediary, has acquired a Netherlands domiciled commercial lines insurance broker and managing general agent (MGA) platform, Thoma Exploitatie BV and its subsidiaries.
The acquisition, which remains subject to regulatory approval in the Netherlands, bolsters PIB’s presence in the Benelux region, adding to the existing portfolio of Light and Risqwise.
Founded in the Netherlands in 1959, Thoma provides risk management, insurance and pension advisory to commercial clients and private individuals in property, liability, motor, transportation, life protection, and health solutions through their own MGA.
The acquisition from previous owner Guardian Holdings Limited will see PIB Group provide investment and support for the Thoma team to continue buying businesses in the Netherlands.
Brendan McManus, Chief Executive Officer (CEO), PIB Group, commented, “The acquisition of Thoma is a testament to the team’s successful track record and tenacity of growth in the region. Its longstanding history, outstanding business performance, and proven M&A and integration capabilities offer an attractive opportunity for PIB Group to leverage local insight and knowledge in Benelux.
“I want to give a warm welcome to the team at Thoma, and we will work closely as a team to integrate our new colleagues into the PIB Group family.”
With backing from private equity firms, Apax Funds and The Carlyle Group, this investment is a crucial step in realising the group’s strategy of consolidating specialist insurance distribution across major European markets.
Onno Jansen, CEO of PIB Group Europe, added, “I am incredibly excited about this investment as this will position us very well for future success in the Benelux region. Thoma’s considerable development since 2012 offers a great platform together with our existing businesses, Light and Risqwise, to further accelerate our growth in the Benelux region. Together with Thoma we will be well placed to act as a hub for further expansion in this very important market.”
Aernoud Hage, CEO of Thoma, stated, “We are delighted to announce the integration of Thoma into PIB Group subject to approval. PIB Group’s leadership, culture and expansion plans align with Thoma’s ambition. With our expertise and strong track record we expect to see strong growth in this partnership.”
Ronald van de Laar, CEO of Light and Risqwise, concluded, “The announcement of PIB Group’s acquisition of Thoma is a commitment to the Group’s future in the region. We are looking forward to Aernoud and the team joining the PIB Group family in the Benelux region.”
In October, PIB Group acquired Nottingham-based RS Insurance Brokers, adding RS’s expertise in Fleet and Professional Indemnity in particular to its portfolio of specialisms.
Earlier this year, PIB Group expanded its presence in Central and Eastern Europe with the acquisition of Nord Group, a provider of risk management, insurance and reinsurance solutions in Poland.
