US-based independent insurance brokerage AssuredPartners is set to take over O’Callaghan Insurances (OCI), which is headquartered in Dundalk, Ireland.
The consideration for the deal, scheduled to close on 1 December 2022, was not made public.
OCI’s 44 employees, headed by managing director Caeva O’Callaghan, will be retained.
Caeva O’Callaghan noted: “The prospect of being able to do that working alongside my new colleagues in Ireland and internationally, without having to sell the soul of the company, means so much to me and is really the perfect outcome.”
Founded in 1949, OCI has a presence in Navan, and Monaghan in addition to Dundalk. Focusing on several business lines in the commercial segment, it also has an online reach with www.QuoteMe.ie.
The company has a client base of more than 20,000 clients across the nation and gross written premium (GWP) of nearly €20m a year.
AssuredPartners has made several acquisitions so far this year.
In August this year, AssuredPartners snapped up Wisconsin-based AVID Risk Solutions, which offers commercial insurance, risk management, and employee benefits services.
Earlier in 2022, AssuredPartners acquired Ohio-based Baker & Associates Insurance Agency.
Commenting on the latest deal, AssuredPartners UK & Ireland CEO David Heathfield said: “With its sector expertise on the retail side and its wholesale capabilities, OCI provides us with another powerful tool in helping us to become a major player in the Irish marketplace.
“Caeva and the O’Callaghan family have built an incredibly successful business over the years, and we feel privileged to be able to partner with them going forward.”