NCBFG divests insurance subsidiary

 





British insurance intermediary PIB Group has completed the acquisition of Thoma Exploitatie BV, a Dutch commercial lines insurance broker and its subsidiaries, from Guardian Holdings.

On January 28, 2025, NCB Financial Group Limited (NCBFG) advised that its subsidiary, Guardian Holdings Limited had divested of 100 percent of the shares of Thoma Exploitatie B.V. to PIB Group Limited and that this was successfully concluded on January 24, 2025.

Thoma Exploitatie B.V., was the insurance brokerage business of Guardian Group Fatum in the Netherlands. This transaction was executed through Guardian Holdings Limited (GHL), a subsidiary of NCBFG,

BIP in November 2024 indicated that the acquisition forms part of PIB Group’s European expansion strategy, strengthening its Dutch portfolio, which includes light insurance and specialty insurer Risqwise, in the Benelux region.

Established in 1959, Thoma offers services including risk management, insurance and pension advisory. Product portfolio spans health solutions, property, liability, life protection, motor and transportation.

PIB Group CEO Brendan McManus said in a release: “The acquisition of Thoma is a testament to the team’s successful track record and tenacity of growth in the region.

“Its long-standing history, outstanding business performance, and proven M&A and integration capabilities offer an attractive opportunity for PIB Group to leverage local insight and knowledge in Benelux.”

The shares of Thoma Exploitatie B.V. were sold to PIB Group Limited through a closed sale process, in line with Guardian Holdings Limited's strategic focus on optimizing shareholder value.

In a statement, NCBFG disclosed that the Group expects to record a gain from this transaction. The financial group said that the sale “aligns with the company's broader objectives to streamline operations and focus on high-growth opportunities within its portfolio. This move is part of NCBFG's ongoing commitment to refining its business model, ensuring sustainable growth, and delivering enhanced returns to shareholders.”

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