PIB Group Iberia enters the Portuguese market with Vitorinos Group deal

January 20 2025

  • PIB Group further expands its European footprint by entering its 11th  market.
  • Mauricio Oliveira, current General Manager of Vitorinos Group, will assume the role of General Manager of PIB Group Iberia in Portugal, and Hugo Vitorino, former owner of the company, will take on the role of Chief Operating Officer.
PIB Group Ltd (‘PIB’ or ‘the Group’), a leading specialist insurance intermediary, has announced PIB Group Iberia has entered the Portuguese market through the acquisition of Vitorinos Group, a leading insurance brokerage company with more than 50 years of history and a business volume of €80 million in managed premiums.

Vitorinos Group is comprised of seven companies: Vitorinos Seguros, Linha Medieval, Beneseg, Miranseguros, Afirma Mediação Seguros, APR Esteves, and Prémio Total. The group operates throughout Portugal with 16 offices, more than 120 employees, and a portfolio of over 150,000 clients.

“This acquisition represents a key strategic step for PIB Group Iberia, and is the most important deal for the company in the Iberian territory to date. It consolidates us as leaders in insurance brokerage in Southern Europe and reaffirms our commitment to growth and excellence,” says Martín Navaz, CEO of PIB Group Iberia.

The acquisition, which is subject to regulatory approval, is a significant milestone for PIB Group Iberia, and reaffirms PIB Group’s international growth strategy. In November 2024 the group entered the French market with the acquisition of BEA Group and expanded in the Dutch market with the acquisition of Thoma.

Onno Janssen, CEO of PIB Group Europe, comments, “The Portuguese market is an integral part of our growth plan as we continue to expand across Europe. The acquisition of Vitorinos Group has placed PIB Group in a strong position as we head into 2025.”

Mauricio Oliveira, current General Manager of Vitorinos Seguros, will assume the role of General Manager of PIB Group Iberia in Portugal. Hugo Vitorino, former owner of Vitorinos Seguros, will take on the role of Chief Operating Officer (COO). Both will report directly to Martín Navaz, CEO of PIB Group Iberia.

“Our integration into PIB Group Iberia marks an exciting new chapter for Vitorinos Group. This union will strengthen our ability to offer innovative solutions and exceptional service to our clients in Portugal,” says Mauricio Oliveira, General Manager Portugal at PIB Group Iberia.