Carlyle-backed PIB Group completed the acquisition of Marx Re-Insurance.

Carlyle-backed PIB Group, an insurance intermediary group, completed the acquisition of Marx Re-Insurance, a reinsurance and insurance broking company. Financial terms were not disclosed. “This has been a unique opportunity to acquire an international operation driven by an outstanding individual and team. Their services will complement PIB’s existing offering while also broadening our proposition into reinsurance. I am looking forward to working with Oliver and the team to enable them to achieve their significant growth opportunities in highly specialist growth areas, into which we can invest further,” Brendan McManus, PIB Group CEO.