PIB will retain Simply Insurance’s 40-member team, who will serve nearly 8000 clients across the nation. Credit: Constantin Wenning on Unsplash

PIB Group has acquired Simply Insurance Services, an Essex-based road risks solutions provider for VSME customers.

Financial terms of the takeover, which is PIB’s 42nd so far and seventh this year, were not shared. Plans are on for further expansion in the UK and overseas.

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PIB will absorb the acquired entity’s 40-member team, who will serve nearly 8000 clients across the nation.

The integration of Simply Insurance into PIB is said to complete the latter’s PIB’s motor offering.

This includes PIB Insurance Brokers, Cooper Solutions and PIB Risk Management.

Commenting on the acquisition, PIB Group CEO Brendan McManus said: “I’d like to extend a very warm welcome to everyone at Simply Insurance Services who are another brilliant addition to PIB Group.

“Their investment in technology to support their experienced team in providing specialist road risks solutions means that they perfectly align and complement our motor offering.”

Set up in 2000, Simply Insurance offers motor trade insurance and has evolved into a multi-product commercial motor insurance provider.

It arranges insurance for driving tuition and motor fleet as well as arranges non-motor commercial and other policies on request for existing motor customers.

Simply Insurance director Darren Leader called PIB a ‘strong cultural fit’.

Leader stated: “Through PIB our customers can choose from a broader range of products and services while receiving the same high levels of service they are accustomed to.

“At the same time our people can continue developing through extensive learning resources and career options available.”

Earlier this year, PIB snapped up Irish family-run insurance broker Creane & Creane, marking its debut retail broking acquisition in Ireland.

The Creane & Creane brand has been retained along with the company’s employees.