Coverys European Holdings (CEH) has acquired a 51% stake in Ireland-based Joseph G Brady Insurance (Brady Insurance).
The financial value of the deal was not disclosed.
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Established in 1959, Brady Insurance is an underwriting agency, broker, and Lloyd’s coverholder, which provides a wide range of business and personal lines products.
Headquartered in Carrick-on-Shannon, the firm holds Lloyd’s coverholder status since 2013 through its wholesale brand Brady Underwriting, which specialises in commercial insurance products for the Irish market.
Under the agreement, Jane Brady will continue to lead the broker, who served as its managing director since June 2005.
Brady Insurance’s acquisition is the fourth since CEH was founded in January 2020. Its other acquisitions include AEC Wholesale Group, Bridge Insurance Brokers, and Gava Underwriting.
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By GlobalDataCoverys European Holdings chief underwriting officer Doug Robare said: “Brady Insurance is a prime example of the top-quality businesses we are bringing into our expanding network. As an independent, the company has stood the test of time over the last six decades – with their impressive performance a testament to their expertise, the strength of their product base, technology platform and stellar network.”
Jane Brady said: “We are excited to further develop our business which is one of Irelands longest-established and best-regarded brokerages. CEH will support our journey of providing superior insurance services both nationally and locally. We also have ambitious expansion plans and look forward to drawing on the strength and expertise of the growing CEH network.”
Brady Insurance’s acquisition is the fourth since CEH was founded in January 2020. Its other acquisitions include AEC Wholesale Group, Bridge Insurance Brokers, and Gava Underwriting.
