PIB Group has added an insurance business to its portfolio with the acquisition of Jigsaw Insurances Services.
Formed in 2000 and headquartered in Harrogate, Jigsaw brings specialisms in motor, breakdown and pet insurance to PIB, while complementing its capabilities in motor and fleet.
Following completion of the deal, which has received the approval of Jigsaw’s directors and shareholders, managing director Neil Richards-Smith will remain at the helm of the insurance broker, with the team joining PIB’s schemes and affinities division.
Commenting on the acquisition, Nick Mountifield, chief executive officer for the schemes and affinities division at PIB, said: “Jigsaw is a very special business, and I am absolutely delighted that PIB Group will become their new home.
“Over the past 20 years, Neil and the team have built an excellent business and earned a loyal customer base. Their deep expertise in their specialist areas is an obvious draw for PIB as well as their genuine concern for their people, customers and integrity that is firmly engrained in their culture.
“Their presence in the personal lines market represents a fantastic step into a new market which will provide many more opportunities for growth, which will also bolster our existing products and services across the Group.”
Jigsaw, which has more than 130 employees at its headquarters in Harrogate, aims to double in size in the next five years with the investment and support of PIB, building on an existing client base of 200,000+.
Richards-Smith commented: “We are very excited to be joining the PIB Group. Since our first introductions, it was without doubt that PIB was the business we wanted to be part of as our future home.
“Everyone we have met from PIB has been brilliant, and already made us feel very welcome. The values that we hold dear to us for our customers and people are well aligned to those of PIB, so we already have a huge amount of synergy and similarities that we feel makes the perfect match.
“We look forward to collaborating with new colleagues and working together to open new doors that sometimes just aren’t available to independent brokers.”