Clare based company bought out by 'growing' intermediary group
A CLARE based company that was “highly sought after” becomes the ninth business to be acquired by a growing intermediary group.
Munstergroup Insurance, based in Ennis, has become the 19th Irish brokerage acquired by the rapidly growing insurance intermediary PIB Group Ltd (‘PIB’).
The business was acquired through Campion Insurance, which leads PIB’s Irish division.
The acquisition of Munstergroup Insurance brings the total number of businesses already purchased by Campion this year to nine.
“Munstergroup Insurance was highly sought after, and I am delighted that we have successfully completed the purchase,” said Jim Campion, CEO of Campion Insurance.
“I am very impressed by the skill, commitment, and ambition of the people in the business, and I am looking forward to working with them into the future. I am delighted to announce that Michael Henchy will lead Munstergroup Insurance.”
The announcement underscores Campion’s strategy to expand its footprint and offering in Ireland. It also reflects PIB’s positive view of the continued growth potential for the Irish market, and with other acquisitions pending underscores the importance of the Irish market to the Group.
Saying that a ‘new chapter’ has begun, one which he is excited for, Michael Henchy of Munstergroup Insurance said: “This is a market-leading insurance business, with a dedicated, ambitious, and hard-working team.
“I am looking forward to working with them to grow this business further and to give our team every opportunity to grow and develop their careers with this business.”