PIB Group and STEIN Bestasig partner to start M&A activity and intend to acquire up to 20 insurance brokers

On the way to create one of Europe’s leading independent diversified specialist insurance intermediaries, PIB Group Limited (PIB) has added Romania to its growing European footprint, by pairing up with one of the most reputable insurance brokers in the country. The collaboration with STEIN Bestasig Insurance Broker (STEIN Bestasig) represents an important milestone as PIB Group’s first venture in the Romanian insurance market.

The move into Romania represents the PIB’s ongoing commitment to increasing geographic diversity and creating a leading specialist and diversified pan-European insurance distribution business. PIB Group has completed almost 100 successful M&As transactions since its inception in 2015, across Western Europe & Poland. STEIN Bestasig will coordinate PIB’s further expansion in the market whose ambition is to attract at least 20 more local brokers in Romania through M&A activity and become a major player in Romania and Southern Europe.

Onno Janssen, CEO for PIB Group Europe commented: “I’m thrilled to welcome STEIN Bestasig, a major player in the Romanian insurance brokerage sector, to PIB Group. This partnership marks the start of PIB’s expansion in South-East Europe, a region that offers great potential for our growth. Getting to know Dante Stein and the entire team has been a pleasure. Their remarkable client retention rate and consistent performance speak volumes about the quality of their products and services. I look forward to supporting everyone at STEIN Bestasig as they continue to build their path to success.”

STEIN Bestasig has almost 20 years of experience in providing outstanding service and satisfaction to its solid base of corporate clients. In addition to their extensive expertise the team takes pride in their highly client-centric approach and is experienced in managing complex risks and insurance products. They boast a particular specialism in fire and property insurance as well as a product portfolio spanning natural disasters, health, vehicles, and other general civil liabilities. Dante Stein and the strong management team will continue leading the business for further success and growth.

Through its partnership with PIB Group, STEIN Bestasig will be able to leverage a broader range of products and services for clients, plus additional negotiating power and fresh thinking by connecting with brokers across the Group. Employees will be able to enjoy the advantages of a larger firm, such as access to further personal development and career opportunities.

Dante, together with his brother Ricky and his partner Grigore Stefanache and PIB will work collaboratively to explore further M&A investment opportunities across the Romanian market.

Dante Stein, Managing Director for STEIN Bestasig Insurance Broker, commented: “What attracted us to the PIB Group, was the chance to partner up with a major UK and Europe-wide insurance brokerage group and therefore be able to offer our clients even better services and products. Furthermore, the professionalism and good will of the PIB team and the speed with which we concluded the transaction, has confirmed to me that this is the right family to be part of for the long-term future of our company.”

In less than 8 years, PIB Group has reached a commission revenue of EUR 400,000,000 (in the financial year 2022) and over 3,800 employees, thus becoming the fastest-growing company in Europe. PIB now has an international presence which includes the UK, Channel Islands, Ireland, Germany, Poland, Denmark, Spain, the Netherlands and Italy. Many more businesses are in the acquisition pipeline, including those in new markets for PIB.

STEIN Bestasig is an independent insurance broker with almost 20 years of experience, specialising in finding the best insurance for commercial clients. Their extensive expertise in the insurance market, as well as the excellent relationship with the management of all major insurance companies, are key to their success.

Backed by world leading private equity firms, Apax Funds and The Carlyle Group, PIB is a dynamic and diversified independent specialist insurance intermediary which is experiencing rapid acquisitive and organic growth. Launched in 2015, PIB has grown rapidly through acquisitions and by employing outstanding individuals with a wealth of knowledge and experience in the insurance market. The PIB Group offers a range of specialist teams, products, and services to clients and has offices throughout the UK, Channel Islands, Ireland, Germany, Poland, Denmark, Spain, the Netherlands, Italy and Romania.

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