PIB snaps up international wholesale specialty broker Guest Krieger

PIB Group has bought independent Lloyd’s broker Guest Krieger for an undisclosed sum.

According to PIB the deal, which is subject to regulatory approval, will boost the group’s London Market capability and open-up new international avenues.

Guest Krieger has been trading for over 45 years and writes specialty business mainly emanating from Israel but also from more than 30 other countries.

Specialisms include Israeli financial lines, professional and general liability, tech and cyber liability as well as political violence.

London Market

The business, which has 36 staff, will continue to trade independently under the Guest Krieger brand and be led by Alon Miller who has been at the helm since 2006, PIB confirmed. Miller and the management team will remain invested in the business.

The consolidator detailed that along with enhancing the group’s London Market capabilities, the purchase will provide a platform to handle London placements of specialty international wholesale business emanating from its growing international portfolio of niche insurance broking firms.

PIB made its first purchase outside of the UK in Ireland in 2019 and following further deals now has offices in Germany, Spain, the Netherlands, Denmark and Poland as well as having expanded in the Channel Islands.

Differentiator

Brendan McManus CEO for PIB commented: “It is a real accolade that they have chosen PIB as their destination for the next part in their long-term success story.

“We are impressed by their dominant market position and deep expertise in niche, high-growth lines and its exceptional client base.

“Their deep understanding of the Israeli and the London market makes them a key differentiator, and what really tops off this fantastic new partnership is the fact that their culture and ethics are so aligned with those of PIB.”

Expansion plans

Miller, CEO of Guest Krieger, added: “I see this as the perfect opportunity for Guest Krieger to invest in our people and to bring new products and services to our clients and remain a truly independent Lloyd’s broker whilst advancing PIB’s international expansion plans.

“I would like to thank our founder Ilan Krieger and our fantastic team of devoted people who have each played an important part in our success to date and I’m very excited about what we can achieve together over the coming years.”

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