Lorica Insurance, a leading regional insurance firm has rebranded to PIB Insurance Brokers.
The move is part of a nationwide programme that will see a number of businesses under the parent company, PIB Group, rebrand to simplify the business offering.
The commercial and leisure insurance specialist was established more than 40 years ago and has a branch in Ystrad Mynach which employs 4 people. The organisation has grown to employ more than 100 people across seven sites in the UK.
Lorica Insurance was acquired by PIB Group in 2016 which has experienced a period of rapid growth since it formed in 2015, with over 30 acquisitions completed since 2016.
David Martland, Director at Lorica Insurance said: “We’re really proud of everything we have achieved as Lorica Insurance, and we’re looking forward to the next phase in our evolution as PIB Insurance Brokers.
“The fantastic team in our Ystrad Mynach branch have been integral to our success, and they will continue to provide a highly professional and friendly service to our clients, who can enjoy working with the same familiar faces. By moving under a single brand as PIB Insurance Brokers, we will be able to continue improving the range of services we offer to our valued clients while drawing on the expertise of the wider PIB Group.”
The rebrand comes as part of a wider exercise that will see 11 brands within PIB Group’s Specialty division move under a single brand effective. The move will also complement the services provided by the PIB Risk Management and PIB Employee Benefits businesses.
All 500 people employed across 30 branches in the speciality division will remain in their roles, and PIB Group hopes to create additional roles in the coming years.
Steve Redgwell, CEO of the Retail Specialty Division at PIB Group said: “The teams at Lorica Insurance has been an important part of the community for more than 40 years and we are looking forward to seeing this experience strengthen in the coming years under the PIB Insurance Brokers name.
“This is an incredibly exciting time for PIB Group as we work to continue expanding our range of services and niche sectors we work with. Bringing these specialist commercial lines businesses under one brand will ensure we take a unified approach, and develop strength as a collective for the benefit of our clients.”