PIB Group Iberia, a global insurance broker and the fifth largest broker in the Spanish market, continues to drive its growth strategy in Spain with the acquisition of the insurance agency and brokerage businesses of Grupo Bárymont.
Founded in 2010, Grupo Bárymont, headquartered in Cantabria, specializes in financial education and advisory services for unit-linked products, life insurance, and pension funds, and is one of the market leaders in these types of solutions in Spain.
Both the tied agency and insurance brokerage units — which will be integrated into Conbenefits Previsión Social and PIB Group Iberia (brokerage), respectively — represent highly strategic acquisitions for PIB Group Iberia, reinforcing its specialization in savings product advisory services and consolidating the group as a leading provider of such solutions in the Spanish market. Bárymont’s financial education business, along with its companies and main brand, will continue to operate independently under a global collaboration agreement with PIB Group Iberia.
Martin Navaz, President and CEO of PIB Group Iberia, stated that “the incorporation of Bárymont represents a qualitative leap forward in our strategy: we are adding one of the most experienced teams in unit-linked products to the group’s tied agency, while also strengthening our presence in key regions for our growth.”
For his part, Onno Janssen, CEO of PIB Group Europe, noted that “Spain is a priority market for PIB Group in Europe. The acquisition of Bárymont is a key step in building a network of highly specialized professionals, with strong local roots and a shared vision focused on client service and innovation.”
Emilio Montaraz, President of Grupo Bárymont, emphasized that “this alliance will exponentially boost our joint business, while bringing us closer to our purpose of achieving the financial well-being of citizens, families, and companies. Beyond ensuring the independence of our Education and Planning service, this partnership guarantees the best insurance solutions for our clients and the best professionals by our side. Having the support of Ruiloba Abogados throughout the negotiation process, as well as their legal and M&A advisory services, has been vital to reaching this agreement.”
About PIB Group
PIB Group is a dynamic, diversified, and independent specialist insurance broker. Established in 2015, PIB Group has grown rapidly and sustainably through acquisitions, organic growth, and the recruitment of top professionals with extensive knowledge and experience in the insurance market.
PIB Group offers a wide range of specialized teams, products, and services, and operates in the United Kingdom, Ireland, Spain, Portugal, Germany, Italy, Poland, the Netherlands, Denmark, Romania, France, and Israel. Across these countries, the group manages over €6 billion in premiums and employs more than 4,000 people.
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