By: 9 December 2019
PIB Group acquires credit insurer and health and safety consultancy

PIB Group has made two further acquisitions with the addition of a credit insurer and a health and safety consultancy to its portfolio.

The insurance intermediary group’s recent acquisitions of CMR Insurance Services and Sue Smith Ltd follow deals to acquire the COBRA group of companies and Ireland-based Optis Insurance struck earlier this year.

CMR provides clients with insurance protection against bad debts for UK and export sales through managed credit insurance policies, as well as claims and debt collection services.

The company tailors solutions and support for startups and major enterprises across multiple sectors and industries. CMR’s team of 12 is led by husband and wife Christian and Kim Hoy, who are remaining with the business following completion of the sale.

Commenting on CMR joining PIB, Christian Hoy said: “Our team strives to provide the highest standard of service to our clients and we have achieved strong growth performance in recent years. We are excited to join PIB in the next stage of our evolution and contribute to the Group’s long-term ambitions.”

PIB also recently acquired Sue Smith Ltd, a small health and safety consultancy. The business will be fully integrated into PIB’s risk management division to ensure continuity of service for clients.

Brendan McManus, chief executive officer at PIB, said of the acquisitions: “I’m delighted to welcome on board all our newest colleagues to PIB Group who are joining at an exciting time in our journey. We look forward to supporting their growth with client service at the core.”

In September, Tim Chadwick took on the role of chief risk officer at PIB. He joined from JLT, and also held senior roles with Willis, AON and RSA throughout his career, which has spanned more than 25 years.