Howden has acquired retail broker PIBL, which is based in the Channel Islands. Howden said the deal would strengthen its ability to service clients in Jersey and Guernsey. PIBL specialises in offering services to high net worth individuals, family offices and trust companies.

PIBL was previously known as Vantage Insurance Brokers and has a focus on professional indemnity and financial institutions insurance, D&O and cyber liability products. The deal is subject to regulatory approval.

Martin Ellis, managing director and global practice leader for professional services at Howden, said: “The acquisition of PIBL strengthens our ability to service the full spectrum of clients in Jersey and Guernsey, from corporates to high-net-worth individuals.

“By combining PIBL’s strong local relationships and client service with Howden’s specialist expertise and global capabilities, we’re creating even stronger outcomes for clients by expanding the breadth of solutions and market access available to them to meet their evolving needs.”

Henry Mowbray, managing director of PIBL, added: “By joining Howden, with its growing presence in the Channel Islands alongside its global network, PIBL will be better positioned to provide enhanced solutions and capabilities to clients.”

The deal follows Howden’s purchase of Guernsey-based ARM Holdings, which specialises in the formation and management of insurance captives.