PIB Group pairs with STEIN Bestasig to expand in Romania

STEIN Bestasig will coordinate PIB Group's expansion in Romania by helping it acquire up to 20 local insurance brokers, the partners said in a joint press release.

Established in 2015, PIB Group has closed almost 100 successful acquisitions across western Europe and in Poland. The company now wants to become a major player in Romania and in southern Europe.

"I'm thrilled to welcome STEIN Bestasig, a major player in the Romanian insurance brokerage sector, to PIB Group. This partnership marks the start of PIB’s expansion in South-East Europe, a region that offers great potential for our growth," PIB Group Europe CEO Onno Janssen said.

"What attracted us to the PIB Group, was the chance to partner up with a major UK and Europe-wide insurance brokerage group and therefore be able to offer our clients even better services and products," added Dante Stein, managing director at STEIN Bestasig.

PIB is an insurance intermediary backed by private equity firms Apax Funds and The Carlyle Group. In less than eight years since its inception, the broker has reached over 3,800 employees and posted a commission revenue of 400 million euro ($434.5 million) in 2022, making it the fastest-growing company in Europe, as per the statement.

Established in 2004, STEIN Bestasig is a Romanian insurance broker specialised in finding the best insurance for commercial clients.

($=0.9206 euro)