CMS has advised PIB Group Limited (PIB Group), a British insurance intermediary group, on the acquisition of WDB, a leading independent insurance broker in Poland. According to PIB Group’s press release, the investment demonstrates PIB Group’s ongoing ambition to target further growth within Poland and the CEE region, and to expand into Europe over the next ten years.
PIB Group, one of the largest independent insurance brokers, offers a range of specialist products and services in the UK, the Channel Islands, Ireland, and Germany. Founded in 2007, WDB has experienced rapid growth over the last 13 years in the life and non-life insurance segments, with a focus on the real estate and transportation sector, as well as life and health programmes in the public and private sectors.
The CMS team, led by Corporate/M&A partner Błażej Zagórski, provided comprehensive legal and tax advice to the British insurance intermediary group.
Błażej Zagórski commented: “This transaction is a good example of the ongoing consolidation of the insurance intermediation sector and we are proud that we could support PIB Group on its entry into Poland. M&A projects in this sector require a combination of transactional expertise and regulatory, data protection and IT/IP know-how. Our experienced team showed once again that we can provide top quality services in all these areas.”
The CMS team included Marta Osowska-Buba (senior associate), who led the transactional team, as well as Magdalena Zmysłowska (senior associate) and Grzegorz Pączek (senior associate), Joanna Białoskórska (associate) and Patrycja Maliszewska (lawyer) from the transactional practice.
The team also included Damian Karwala (senior associate), Maciej Olejnik (senior associate), and Anna Szczygieł (lawyer), who advised on IP/IT and data protection. Ewa Świderska (counsel) advised on insurance regulatory aspects and were supported by Sylwia Raszplewicz-Czyżewska (associate) and Marta Szwarczyńska (associate). Employment law advice was provided by Maciej Andrzejewski (senior associate) and Aleksandra Nowakowska (lawyer).
Jagoda Guzik (senior associate) and Bartłomiej Barański (lawyer) advised on real estate matters. Łukasz Dynysiuk (partner) and Rafał Dostatni (associate) provided tax advice, and Agnieszka Starzyńska (senior associate) and Agata Władzińska (lawyer) advised on competition law issues. Laura McIntosh (client relationship partner) and James McMahon (associate) from the CMS Edinburgh office advised on UK law.