PIB looks to Ireland for expansion

PIB has bought Creane & Creane as it looks to accelerate its retail footprint in the country.

PIB said Creane & Creane is its first retail acquisition in the region with plans to buy more and develop Ireland as a “significant trading territory for further investment”.

Brendan McManus, CEO for PIB Group commented: “I’m so pleased to extend the PIB arm around our new colleagues at Creane & Creane. This is a fantastic business with an amazing history, brilliant people and strong client base.

“It didn’t take us long to recognise the strength and brand presence that they have built over many decades, which made them an obvious choice for our first retail brokerage business in the Irish market.”

Family
PIB described Creane & Creane as a family-run insurance broker providing commercial and personal lines cover to retail and business customers throughout Ireland.

It was established in Enniscorthy in 1945 by the late William Creane. Following his retirement, Michael Mahon took over the role as managing director and continued to grow and expand the company.

Mahon’s son-in-law Tony Doyle is the current managing director, where his wife Olive and other family members are active in the business. It has a 30-strong team of staff.

Tony Doyle commented: “I’m delighted to be able to say that Creane & Creane is part of PIB Group, which presents a very exciting opportunity to support their long-term growth plans in Ireland.

“We are extremely proud of our 75-year history, and our longevity is thanks to the steady support of our loyal clients and colleagues who we regard very highly. I look forward to continuing to work together throughout the next part of our journey.”

Brand
All employees will remain under the ongoing leadership of Doyle and his management team. The Creane & Creane brand will also be retained.

Doyle added: “Becoming part of a larger group was a big decision, and I’m very pleased to have found a new home through PIB who share the same values. Through PIB we will be able to pass further benefits onto our customers as well as our people.”

Creane & Creane is one the largest clients of wholesale provider, Citynet Insurance Brokers, which has been part of PIB Group since 2017. It also already owns Optis Insurance.

McManus continued: “We want to focus on Ireland becoming a key territory for PIB, with ambitions to grow both our retail and wholesale footprint through further acquisitions. Creane & Creane are an obvious starting point to help us make a mark on the Irish retail market.”

PIB indicated that it would seek further expansion across the UK and was planning to go deeper into Europe to build on its presence in Germany, Poland and Denmark.

This is PIB’s fourth investment of 2021 and follows on from Acquinex, Element Hinton, and UK & Ireland Insurance Services.

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