PIB Group acquires German reinsurance broker

U.K.-based insurance broker PIB Group Ltd. has acquired Germany-based Marx Re-Insurance Brokers GmbH for an undisclosed amount, expanding its presence in the reinsurance market, Verdict reports. The move aligns with PIB's plans for international expansion. Marx Re specializes in asset-based business including property and construction, power generation and renewable energy sourced from Europe and Latin America.

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