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Ibex Insurance to take over David Hills Insurance Agency

By April 1, 2014September 11th, 2021No Comments

After 25 years service looking after the insurance needs of expats in the Algarve, David Hills is planning to take a well earned rest, enjoy a little more free time and in doing so will hand over the baton of his well established business to Ibex Insurance.

‘’In making this decision I was anxious to ensure that all clients of David Hills Insurance Agency would continue to receive an excellent service, have access to a wide range of insurance products and that the staff who have been so loyal to me over the years would continue to be looked after by a good employer.  I believe that I am now passing the baton to a like minded local business with professional ethics which can cover all these requirements’’ said David recently.

Ibex took over on 1 April and continues to trade from the current office location in Avenida Duarte Pacheco, Almancil and have employed Susana, Lena & Zinha who will continue to look after their clients’ insurance needs.

This illustrates a significant investment and commitment from Ibex in relation to doing business in the Algarve.  This acquisition follows one made in 2010 when Ibex acquired Lloyd & Whyte International Ltd.

Ibex already has two offices in the Algarve, situated in Boliqueime and Tavira and is a name already well known to the expatriate community.  Ibex also has experience in the Portuguese domestic market through its collaboration with ACP.

“I am confident with our common values, strong talent pool and vision, this acquisition will continue to help us maintain our position as the leading expatriate provider of insurance products and achieve continued profitable growth.  We are delighted to have the opportunity to extend our business in Portugal, particularly through David who we have known for many years and is very professional in all his business dealings’’ said Ibex Managing Director, Richard Hill.  ‘’We certainly wish David all the best for the future’’.

Ibex policies are underwritten by leaders in their fields and as coverholders for Lloyd’s of London, Ibex offers the strength and security of the world’s leading insurance market.  The Head Office of Ibex is located in Gibraltar.  Ibex Sucursal Portugal is the branch operation of Ibex  in Portugal and is licensed to operate as a “Corretor de Seguros” (Insurance Broker). The Ibex Sucursal is fully authorised by the Instituto de Seguros de Portugal (ISP).

 In 2008 Kiln, the international insurance and reinsurance group acquired a minority shareholding in Ibex Insurance Services Ltd.  Kiln is part of the ‘AA’ rated Tokio Marine Group. Its UK operating company, R J Kiln & Co Limited, currently manages five syndicates at Lloyd’s.

The office in Almancil will be Ibex’s 15th in the Iberian Peninsula and islands and the product range also continues to grow as Ibex can provide cover for cars, homes, businesses, pets, travel and boats whilst also offering funeral plans.  Ibex look forward to continuing the excellent working relationship with Lusitania with whom David Hills has worked as an exclusive agent over many years. In 2013, Ibex sold insurance products on behalf of over 30 different companies, making them the true broker of choice in the expatriate market place.  Ibex also has a network of over 200 agents and brokers located in expatriate communities.