PIB Group acquires employee benefit division of Sanlam Wealth Planning UK

January 6, 2020

PIB Group Ltd (PIB) has made its mark on the new decade by strengthening its employee benefits offering through a reciprocal relationship with Sanlam Wealth Planning UK. The move involves the acquisition of the Sanlam Employee Benefits division and client book of business, which will transfer into and trade under the PIB Employee Benefits brand led by David Skinner, with immediate effect.

Sanlam Employee Benefits have built a strong reputation as specialists in supporting the needs and requirements of all types of companies from small, family-run businesses to large, globally recognised household names. Their portfolio of products and services are similar to those of PIB’s offering including pensions, group risk and healthcare consulting as well as an online benefits portal for employees.

Richard Haynes, Head of Employee Benefits at Sanlam Wealth Planning UK Ltd commented: “We are delighted to become part of PIB Employee Benefits within the PIB Group and look forward to working with David and the team. This is an important milestone in our journey so far and will allow us to develop our proposition whilst continuing to offer a high-quality service to our clients.”

Part of the deal also includes an exclusive arrangement with the wider Sanlam group to provide enhanced and joined-up support for clients so that their employee benefit enquiries will be referred to and managed by PIB. In return, PIB will introduce clients who have financial planning requirements to Sanlam’s wealth managers.

The PIB Employee Benefits division formed in 2016, to deliver innovative products and services across the whole spectrum of employee benefits. In 2018 the division grew through the acquisition of i2 Healthcare and in 2019, their combined efforts delivered 24% organic growth.

Brendan McManus, CEO for PIB Group commented: “Welcome to the Sanlam team who will provide invaluable experience to complement our existing offering. Our employee benefits division had a busy year in 2019 thanks to a lot of hard work in prior years to build a strong pipeline which is now coming into fruition. The combination of PIB Employee Benefits, i2 Healthcare and new colleagues from Sanlam takes the division to an exciting level for clients with a range of new resources and capabilities.”