British insurance intermediary PIB Group Ltd (PIB) has made its fifth investment in Spain, though Campos y Rial S.A. Backed by world leading private equity firms, Apax Funds and The Carlyle Group, PIB is a dynamic and diversified independent specialist insurance intermediary.
The arrival of Campos y Rial S.A. to the Group is another strong signal of PIB’s ambition to become an important player in the Spanish insurance market and building a leading specialist and diversified pan-European insurance distribution business.
Campos y Rial S.A. represents PIB’s new presence in the North-West coast of Spain (pending customary regulatory approval). Headquartered in Vigo, Campos y Rial focuses mainly on SMEs with particular expertise in health, credit, civil responsibility and property damage. They add to a growing portfolio of businesses, under the leadership of Martín Navaz, CEO for PIB Group Spain.
Martín Navaz commented: “I would like to give a very warm welcome to everyone at Campos y Rial S.A who have joined PIB Group and strengthen our offering in Spain. Their professionalism and extensive experience is recognized through their loyal client base who have a local and international presence. We look forward to supporting our new colleagues and providing them with access to many more products and services through their new extended network and capabilities throughout PIB which their customers can enjoy.”
Established since 1986, the Spanish insurance broker is headquartered in Vigo, as well as offices in A Coruña, Ourense and Madrid. The business is home to 23 highly qualified and professional employees, who focus on life and non-life products servicing mainly SMEs and medium-high individual customers, of which some have presence in other countries and require additional services abroad.
CMS Spain’s team was led by partner Jaime Bofill along with senior associate Guillermo Ruiz Barrilero and associates Andrea Campos and Ana Pellejero, the same team that recently advised PIB on the acquisition of Engloba.