PIB Group expands into Poland following WDB acquisition
When InsurTech Digital with Paul Johnson, CIO and COO at PIB Group, he informed us that a combination of “professionalism, data and automation” was facilitating a significant expansion campaign for the company in its native UK.
At that time, 30 businesses had been brought under its umbrella in approximately four years. This latest news, part of a larger 10-year development on the continent, demonstrates the extent to which this plan is coming to fruition.
A significant asset
WDB, founded in 2007, has enjoyed fast-paced growth of its own fuelled by organic development and acquisition. Currently a leading provider in the Polish market, with interests in the life, health, real estate and transportation sectors, the company is expected to be a significant asset for PIB Group. Brendan McManus, CEO, explained:
“I’m really excited to announce the acquisition of WDB and welcome our new colleagues to PIB Group.
“With support from PIB, the WDB management team led by CEO Mariusz Muszynski intends to widen its product base to drive organic growth as well as acquire similar professional insurance brokers in Poland, and potentially the wider CEE region.
“Their entrepreneurial approach, collaborative culture and track record of growth along with excellent client service make the team a great fit with PIB. I look forward to seeing their plans come to fruition over the coming months,” he said.
Musznski himself added, “The investment of PIB Group in our company is a great endorsement of the chosen development strategy.
“For us, joining PIB Group means, above all, access to specialist knowledge and capital, which will allow us to play an important role in the consolidation of brokerage markets in Poland and the CEE region.
“This is another breakthrough moment on our business path. We are very happy to start collaborating with our new colleagues from PIB Group.”
SIMON Insurance expands its annuities platform
The New York-based insurance and annuities services company, SIMON, has announced the launch of its expanded annuities service via its new digital platform, called LiveWell.
The valuable annuity service is issued by the Midland National Life Insurance Company and administered by Sammons Retirement Solutions - a division of Institutional Group, as the first-to-market. More carriers are cited to join SIMON’s variable annuity marketplace over the next few months.
The move means financial professionals can now find and explore Sammons’ LiveWell Variable Annuity solutions, access product-specific marketing literature, and run powerful allocation and income analytics within the product—all directly within SIMON’s interactive platform.
Tax-deferred growth for the retired
According to reports, variable annuities are favoured by savings markets because they can help accumulate assets for retirement with tax-deferred growth. They also offer agile and flexible tax-free reallocations as well as optional death benefits for heirs.
Frequently used as part of a long-term retirement planning strategy for tax-efficient growth, VAs are now available in SIMON’s Marketplace alongside fixed indexed annuities, fixed annuities, and structured annuities.
The SIMON annuities platform also provides financial professionals with centralised access to the tools and resources they need to analyse marketplace products based on their clients’ risk profiles and investment horizons.
The platform also allows investors to:
- Explore various rider illustrations
- Leverage powerful allocation analytics
- View fund options and their performance statistics
- Dive deep into the historical performance of allocations and funds
Speaking about the launch of LiveWell, Melissa Scheuerman, VP of Business and Sales Development at Sammons, explained, “Everyone seeks custom solutions today—from news feeds on our cell phones to grocery delivery services, and retirement planning is no different. Products need to offer flexibility, and professionals need intuitive tools at their fingertips to analyse and manage products that offer that flexibility.
“Our partnership with SIMON illustrates a commitment to offering scalable annuity solutions to professionals serving a growing population of retirees.”
Scott Beshany, Chief Distribution Officer at SIMON, added, “With game-changing analytics for this product class, variable annuities are a natural new addition to SIMON’s product lineup. Our Marketplace is now able to deliver a more holistic product experience, and we look forward to driving a better, more powerful VA product experience for financial professionals.”