- MJM Holdings (“MJM”) signed a preliminary agreement on 19th May 2025 for the acquisition of shares in five companies belonging to GIA Investments (“GIA”).
- The acquisition of these companies from GIA will be finalised upon receiving approval from the Office of Competition and Consumer Protection (UOKiK).
- As a result of the future transaction, the annual premium managed by MJM will increase by more than PLN 410 million, while the group’s expertise in group life insurance, employee benefits and distribution will also be enhanced.
- This is MJM Holdings’ second major acquisition in recent months, after acquiring Leadenhall Insurance in November 2024.
- The founders of GIA will join MJM Holdings as shareholders and will continue their involvement in operational activities post-transaction.
MJM Holdings has entered into a preliminary agreement to purchase 100% of shares in the following GIA Investments companies:
- Polska Grupa Brokerska sp. z o.o.
- International Brokers Group sp. z o.o.
- BD Advisory and Assistance sp. z o.o.
- GSU Centrum Usług Wspólnych sp. z o.o.
- GSU Polisa sp. z o.o.
The final agreement will be signed after receiving approval from the President of UOKiK.
The acquisition will strengthen MJM’s position in the brokerage market and increase the Group’s annual insurance premium placement to over PLN 1.5 billion following the consolidation of results.
The planned transaction aligns with MJM’s growth strategy, supported by Corsair Capital. The acquisition of companies from GIA will contribute to MJM’s strong position in group life insurance and employee benefits, bringing an established distribution network, extensive expertise in brokerage and agency operations, and annual premium volume surpassing PLN 410 million.
- Marcin Ślotała, President of the Management Board of MJM Holdings, commented: “The MJM Group is developing in a deliberate and consistent manner, in line with a clearly defined strategy. From the outset, our goal has been to build an organisation that addresses current market needs while being prepared for future challenges. The integration of companies from GIA will significantly accelerate this process – the transaction will enhance our capabilities in the group life insurance segment, enabling us to place nearly PLN 500 million in premiums annually in this area. It will also support the expansion of our distribution network and allow us to offer clients even more comprehensive insurance protection. This is another key step following the earlier acquisition of Leadenhall Insurance, which strengthened our position in the specialised insurance sector and created new opportunities for business growth. Both moves align with our long-term ‘buy-and-build’ strategy, backed by Corsair Capital.”
- Mariusz Goetze, President of the Management Board of GIA Investments, stated about the planned transaction: “Joining MJM represents a natural step in our continued development. Together, we will achieve a new scale of operations and gain access to capital and expertise that will enable us to better meet customer needs. We will bring to MJM unique know-how in group life insurance distribution – an area where we have been cultivating specialisation and relationships with key partners for years. The transaction will also strengthen the combined group’s distribution channels for insurance products.”
- Vincent Vandendael, Chairman of the Supervisory Board of MJM Holdings, added: “The partnership with GIA, one of the most important players in the Polish group life insurance and employee benefits market, will reinforce our position as a market leader among independent brokers. We look forward to working with GIA and anticipate that our Management Team will benefit from the expertise of GIA’s founders and managers.”
- Grzegorz Kruk, Head of M&A at MJM, said: “The acquisition of companies from GIA is a continuation of our development strategy through market consolidation. We are currently engaged in several transaction processes while simultaneously analysing the market to identify brokers that align with our organisation – in terms of strategy, business model, and organisational culture.”
Corsair and MJM Holdings were advised by Vienna Capital Partners as their exclusive investment banking advisor, supported by:
- Legal advisors
- DLA Piper
- Slaughter and May
- Stibbe
- Debt advisor
- Rosedge Capital AG
- Due diligence teams from PwC Polska
- Financial DD
- Tax DD
- IT DD
- Commercial DD provider
- Arthur D. Little
Sources: MJM, VCP