Campion Insurance coverage, an Irish unit of UK-based specialist insurer PIB Group, has concluded the acquisition of Ennis-based brokerage Munstergroup Insurance coverage.
The businesses didn’t disclose the monetary phrases of the deal.
Munstergroup provides insurance coverage protection for houses, automobiles, vans, enterprises and farms, aside from medical health insurance.
The newest deal, a part of the corporate’s acquisition spree, takes the variety of corporations acquired by Campion this 12 months to 9.
With the closure of the deal, Pádraic McNicholas – who at present leads Munstergroup – will step again from the enterprise and Michael Henchy will lead the acquired enterprise.
Campion Insurance coverage CEO Jim Campion mentioned: “I’m delighted that Munstergroup Insurance coverage is now a part of Campion Insurance coverage and PIB Group.
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“I’m very impressed by the ability, dedication and ambition of the individuals within the enterprise, and I’m trying ahead to working with them sooner or later.
“Now that they’re a part of Campion Insurance coverage and PIB we can help the enterprise because it grows giving individuals the chance to succeed in their potential.”
Campion famous that the newest acquisitions are strategically positioned to satisfy the necessities of its purchasers.
The corporate offers a broad suite of providers and options resembling specialist industrial merchandise, motor and residential insurance coverage, and life and pensions choices.
Munstergroup Insurance coverage Michael Henchy mentioned: “The announcement of the acquisition of Munstergroup Insurance coverage by PIB Group is nice information for our purchasers and staff.
“I’m trying ahead to working with them to develop this enterprise additional and to present our staff each alternative to develop and develop their careers with this enterprise.”
PIB forayed into the Irish retail market in April 2021 by buying insurance coverage dealer Creane & Creane Insurance coverage.
Subsequently, the corporate acquired Oliver Murphy Insurance coverage. PIB acquired Campion Insurance coverage in a deal price greater than €70m ($74.36m).
In February this 12 months, PIB Group enhanced its UK and Irish presence with the buyout of Jigsaw Insurances Providers, Landmark Insurance coverage and Halligan Insurance coverage for an undisclosed sum.