PIB Insurance buys Channel Insurance Brokers

The local business has been in the islands for more than 30 years and currently employs 16 staff in Guernsey. It serves commercial and private customers across the Channel Islands from its offices in the South Esplanade.

The deal will see a new chief executive officer in Stephen Llewellyn-Jones, who will work alongside CIB executive directors Bob Marquis and Alex Lindsay.

Mr Llewellyn-Jones has had a 30-year career in insurance, specialising primarily in medical insurance. He spent 13 years at Rossborough Healthcare International in the island and is also a director and shareholder of Rossborough Financial Services.

'This is an exciting time for the business and for PIB. PIB's investment will allow us to continue building on the strong foundations CIB has established. Our aim is to provide a viable alternative in the Channel Islands providing competitive rates backed by a team of unrivalled experts,' he said.