American insurance broker NFP has bought an Irish specialist commercial insurance broker, ReSure, for an undisclosed sum.
The acquired firm is based in Dublin and brings experience in placing complex risks in areas such as real estate, financial lines, restructuring, recycling, and domiciliary homecare among others.
ReSure was founded just over two years ago and is believed to be one of the fastest-growing commercial insurance brokers in Ireland with over $26.2m gross written premium in 2021, NFP noted.
The deal is aimed at bolstering NFP’s capabilities and expertise in the Irish market, where it already owns HMP Insurance and Pension Advisors and Aiken Insurance.
NFP UK and Ireland managing director John Paul Allcock said: “We have acquired a great business with great clients, and a group of extremely talented brokers and client managers. Most importantly, we are confident they will fit into the culture of NFP, which encourages independence, entrepreneurial spirit, ethics and a focus on doing the right thing for employees and clients.”
ReSure managing director Aidan Brady said: “Our ambition at ReSure is to continue our incredible growth journey to scale the business and support our clients as they expand into new markets and sectors.
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“In joining the NFP family, we also see great value in integrating our insurance solutions and services with NFP’s corporate benefits and wealth management clients.”
As part of the deal, Brady, the entire ReSure team along with other directors, Ross Barron and Garry Fitzroy will retain their roles.