A LIMERICK insurance company is the latest to have been acquired by a London-based insurance group.
Tim Duggan Insurances, based on O’Curry Street in the City Centre, has been taken over by the PIB Group through the company’s Irish division, Campion Insurance.
The newest acquisition brings PIB Group’s Irish staff numbers to over 400, following the similar acquisition of Sullivan Insurances on Upper Hartstonge Street last year.
Campion Insurances have 11 offices across the country, and the new acquisition further strengthens Campion’s portfolio in Ireland.
Tim Duggan will still be the head of the city centre insurance brokers once the takeover is complete.
In a statement to the Limerick Post, Tim Duggan, Managing Director of Tim Duggan Insurances Ltd, said that the acquisition of the company represented good news for both the firm, and their customers.
“The acquisition of our company by PIB Group is great news for our clients and team. It provides our customers with greater scale and a wider range of services which is very exciting.
“We are delighted to now be part of the Group and look forward to working with Jim and Campion Insurance to drive further growth of the Campion business,” Mr Duggan concluded.
CEO of Campion Insurance, Jim Campion, commented that adding Tim Duggan Insurances to their portfolio would be able to broaden their offerings to customers.
“The addition of Tim Duggan Insurances Ltd aligns with our strategy of developing our specialist insurance offerings for the benefit of our customers. I would like to extend a very warm welcome to our new colleagues, and I look forward to working with Tim and his team,” Mr Campion said.
“We will continue to invest in talent to drive organic revenue growth and will also look to further acquire businesses that will enhance our Group more broadly.”
PIB Group, launched in 2015, has offices throughout the UK, Channel Islands, Ireland, Germany, Italy, Poland, Denmark, Spain and the Netherlands.
Campion Insurance was established in Urlingford, County Kilkenny, in 1984 by Jim and Margaret Campion. Since then, it has grown into one of Ireland’s largest brokers. The business was acquired by PIB Group in 2021.
