Polish WDB and Brokers Union merge under the PIB Broker brand

7 February 2024 — Daniela GHETU

The Polish brokerage companies WDB and Brokers Union, which merge and further operate under the PIB Broker brand. The new entity is part of the international team of PIB Group, one of the largest insurance intermediation groups in Europe, operating in 9 countries, generating revenues in excess of GBP 350 million from specialist insurance, Gazeta Ubezpieczeniowa wrote.

"The merger of WDB and Brokers Union under the PIB Broker brand is primarily due to the similar business model and common geographical area in which both companies operate. Thanks to the synergy of competences and experience of our teams, we are able to provide our clients with even better service and not only meet their expectations, but also anticipate them and provide innovative solutions in the field of insurance and risk management," explains Mariusz Muszyński, President of the Management Board of PIB Broker.

According to the broker's representatives, closer cooperation is expected to be beneficial mainly for the clients of both companies, but also for their teams. PIB Broker operates in specializations with high growth potential.

According to the broker's management board members, the entire transaction is not a classic merger, but rather an opportunity to combine the operational potential, extensive experience and organizational cultures of both companies.

"Today, we see great opportunities for PIB Broker in selecting even better, tailor-made solutions for our clients, especially where our existing competencies complement each other," adds Radosław Grzęda, Vice-President of the Management Board of PIB Broker. "I'm thinking in particular of group life and health protection programs, but in fact we will comprehensively develop all the insurance solutions that our customers need," he adds.

PIB Group is an international group consisting of various insurance intermediaries. It is present in 9 countries, generating revenues in excess of GBP 350 million from specialist insurance. As one of the largest insurance intermediation groups in Europe, it collected a premium of approx. PLN 13 billion in 2022 and achieved revenue growth of approximately 70% year-on-year.

PIB Group is an active consolidator of the Polish insurance intermediation market. In Poland, it has acquired WDB, Brokers Union (now both will operate under the PIB Broker brand), companies from the Exito group (exito Broker, Eko Broker, ECRB), reinsurance broker ReSolutions and the multi-agency Asist.

 

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