Andronic x Partners advised the shareholders of STEIN Bestasig Insurance Broker in connection with the sale to PIB
Bucharest, April 15, 2024 — Andronic x Partners assisted the shareholders of Stein Bestasig Insurance Broker in the sale of their entire stake to PIB Group, continuing the sustained pace of transactions this year. With nearly 20 years of experience in insurance brokerage, Stein Bestasig Insurance Broker is one of the main providers on the corporate market.
Ana-Maria Andronic (Founding Partner) led the Andronic x Partners team, which included Vlad Druța (Partner), Codrina Simionescu (Senior Associate), Andrei Cîmpan (Associate), and Maria Stancu (Junior Associate).
"We are honored to have had the chance to work closely with the Stein family and Grigore Ștefanache in this complex transaction," said Ana-Maria Andronic, Founding Partner. "PIB's entry on the Romanian insurance market marks a turning point, and we are pleased to announce another successful partnership."
"The professionalism and dedication of the Andronic x Partners team were essential for the closing of this transaction," added Dante Stein. "We thank Ana-Maria, Vlad, and the entire Andronic x Partners team for yet another successful collaboration."
The transaction represents PIB Group's entry on the Romanian market, aiming to acquire at least 20 insurance brokers in Romania through mergers and acquisitions under the Stein Bestasig Insurance Broker umbrella. Furthermore, through the partnership with PIB Group, Stein Bestasig Insurance Broker will have access to an extended range of insurance products and services for its clients, benefiting from increased negotiating capacity with insurers and new perspectives and best practices in the field, thanks to close collaboration with brokers within the group.