PIB Group Ltd (‘PIB’) has acquired the Spanish firm Fabroker. Fabroker extends PIB Group Spain’s presence in the country to Tarragona and to offices in 20 cities across the country. It is the 15th brokerage acquired in Spain since PIB moved into the Iberian market three years ago.
Fabroker has been in the brokerage business for 35 years, and its specialisation has been developing agreements for professional associations and unions, as well as for SMEs and individuals, in areas such as professional liability, mobility, and health. It has four offices in Tarragona and Reus.
PIB Spain continues the group's acquisition and territorial growth plan, which continues to focus on ensuring quality service and the proximity to the client portfolios of new brokerages.
Martín Navaz, CEO of PIB Group Spain, commented: “I am delighted to welcome the Fabroker team, with its first-class professionals and a large client portfolio that will help us continue to develop our business strategy and put clients at the centre of our decisions.
“In this regard, the 15 brokerages already integrated into our group meet our main objective, which is to develop a large insurance group while maintaining close service to our clients.”
Onno Janssen, CEO of PIB Group Europe, commented: “I want to welcome Fabroker as a team of professionals joining our operations in Spain, where we have a great acceptance in the market. PIB's growth in Spain consolidates our international strategy in countries with great future development within the insurance sector.”
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