September 7 2026
PIB Group Ltd (‘PIB’, the ‘Group’), one of Europe's leading independent specialist insurance intermediaries, today announced the acquisition of SC CND International Insurance Broker SRL ("CND"), a highly respected Romanian insurance broker specialising in the construction and real estate sectors.
The acquisition marks PIB Group's second acquisition in Romania. Following the successful acquisition of STEIN Bestasig Insurance Broker in 2024, the transaction strengthens PIB Group's local presence and demonstrates its continued commitment to investing in high-quality entrepreneurial businesses with deep specialist expertise and outstanding client relationships.
Founded in 2002 by Magda Gales, over more than two decades, CND has built a strong position in the Romanian corporate insurance market, serving clients across a diverse range of industries and developing particular expertise in complex and specialist risks. Real estate and construction represent important areas of expertise, with CND advising clients throughout the lifecycle of property developments - from acquisition and project financing through construction and operation.
With this acquisition, PIB Group now employs more than 25 professionals in Romania, bringing together complementary expertise across corporate insurance, construction, real estate and complex commercial risks.
Dante Stein, Country CEO Romania, PIB Group, commented: "Over more than twenty years, CND has built an outstanding reputation in one of the most technically demanding areas of insurance, which is why we’re so excited to welcome Magda and the entire CND team to PIB Group. Their expertise in construction and real estate perfectly complements our existing capabilities and significantly strengthens our position in the Romanian market.
“This acquisition is an important step in our long-term strategy for Romania. We believe the Romanian insurance market offers tremendous opportunities, and we are committed to building one of the country's leading specialist insurance brokerage groups."
Magda Gales, Founder of CND, said: “Becoming part of PIB Group opens a new chapter for CND, one that marks the end of an important stage while also affirming the value of the journey that has brought us here.
“CND has been built over the years on professionalism, integrity and responsibility, but above all, on people and on the trust placed in us by our clients and partners. Becoming part of the PIB Group allows us to continue this journey while preserving what defines us and, at the same time, gives us access to international expertise, broader resources and new opportunities for growth. Our values remain the same. Our possibilities become greater.”