PIB ACQUIRES JERSEY BROKER CBC INSURANCE

PIB Group has acquired general insurance broker CBC Insurance (Jersey) from CBC UK. The acquisition will bolster PIB’s presence across the Channel Islands. Located in St. Helier, CBCJ focusses on financial institution and trust company entity business. Led by Si Aziz and Stephen Potts, the broker offers professional indemnity and directors and officers liability insurance, property, construction and mergers and acquisitions transactions, as well as fine art, marine and aviation cover. Originally trading as PBS, CBCJ rebranded in 2018 following its purchase by CBC UK, a London market broker with backing from private equity firm BP Marsh. The company will now be rebranded and integrated with PIB’s Guernsey based business, Channel Insurance Brokers. PIB said its acquisition trail shows no signs of slowing with more in the pipeline, including international expansion.