Clare-based Munstergroup Insurance latest to be acquired by Irish arm of PIB Group

The Ennis firm is the 19th Irish broker to be acquired by the group as it continues as ongoing strategy of acquisition-led growth 

Since this year alone, nine businesses have been acquired through Campion for PIB, including Tim Duggan Insurances, based on O'Curry Street in Limerick city, Ennis-based Gleeson Insurance, as well as Landmark Insurance and Halligan Insurance, both based in Dublin.

Clare-based Munstergroup Insurance is the latest Irish broker to be acquired by a private equity-backed multinational, being purchased by the Irish arm of UK-based PIB Group for an undisclosed amount.

The Ennis firm is the 19th Irish broker to be acquired by the group, which is headquartered in London, as the company continues its ongoing acquisition-led growth strategy across Ireland and further afield.

Munstergroup was acquired through PIB's Irish subsidiary, Campion Insurance, which the group purchased in November 2021. 

Based in Ennis, Munstergroup provides insurance cover for homes, cars, vans, businesses and farms, with the financial services side offering health insurance, pensions and investment assistance.

Since this year alone, nine businesses have been acquired through Campion for PIB, including Tim Duggan Insurances, based on O'Curry Street in Limerick city, Ennis-based Gleeson Insurance, as well as Landmark Insurance and Halligan Insurance, both based in Dublin.

Backed by private equity firms Apax Partners and the Carlyle Group, PIB Group was founded in 2015 and has since embarked on numerous acquisitions across Poland, Spain and the Netherlands, as well as Ireland.

“I am delighted that Munstergroup Insurance is now part of Campion Insurance and PIB Group," said Jim Campion, chief executive of Campion Insurance.

Established in Urlingford, Kilkenny in 1984, Campion Insurance has grown into one of Ireland’s largest brokers, with offices nationwide. The business was acquired by PIB Group in 2021 with the broker now PIB’s lead brand in the Irish market.

"The business was highly sought after, and I am delighted that we have successfully completed the purchase. Now that they are part of Campion Insurance and PIB we will be able to support the business as it grows giving people the opportunity to reach their potential," Mr Campion continued.

Pádraic McNicholas, who currently leads Munstergroup, is stepping back from the business following the acquisition, with Michael Henchy taking over the role.

"Today, marks a new chapter for Munstergroup Insurance, one which excites me," said Mr Henchy. "This is a market-leading insurance business, with a dedicated, ambitious, and hard-working team."