Insurance intermediary organisation PIB Group (PIB) has reinforced its employee benefits package through the acquisition of Sanlam Wealth Planning UK's employee benefits division.
Sanlam Employee Benefits will transfer and trade under the PIB brand, lead by David Skinner, managing director, employee benefits at PIB.
PIB group, which has over 1,200 employees in 40 locations, was founded in 2015. The employee benefits division formed in 2016 to deliver products and services across the spectrum of benefits and reward, resulting in the organisation seeing a 24% organic growth in 2019.
Sanlam Employee Benefits provides a portfolio of products and services similar to that of PIB's existing employee benefits offering, including pensions, group risk, online benefits portals and healthcare consulting.
Part of the acquisition deal includes an exclusive arrangement with the wider Sanlam group, ensuring that clients' employee benefit enquiries will be referred to and managed by PIB.
Richard Haynes, head of employee benefits at Sanlam Wealth Planning UK, commented: “We are delighted to become part of PIB Employee Benefits, within the PIB Group, and look forward to working with [Skinner] and the team. This is an important milestone in our journey so far and will allow us to develop our proposition whilst continuing to offer a high-quality service to our clients.”
Brendan McManus, chief executive officer for PIB Group, added: “Welcome to the Sanlam team, who will provide invaluable experience to complement our existing offering. Our employee benefits division had a busy year in 2019 thanks to a lot of hard work in prior years to build a strong pipeline which is now coming into fruition. The combination of PIB Employee Benefits, i2 Healthcare and new colleagues from Sanlam takes the division to an exciting level for clients with a range of new resources and capabilities.”
