US-based insurance broker Gallagher has expanded its presence in Ireland with the acquisition of Dublin-based peer Keaney Insurance Brokers for an undisclosed sum.
Gallagher offers client service capabilities in more than 130 countries around the world through a network of correspondent brokers and consultants.
Keaney is a commercial insurance broker that works with businesses across Ireland in insurance and risk management.
The company was founded in 1993 by Terry Keaney who will continue, together with the management team, to oversee the business, reporting to Ronan Foley, chief executive of Gallagher in Ireland.
Gallagher already has significant operations in Ireland, employing over 275 risk professionals, placing €150 million gross written premium into the market, with offices in Dublin, Limerick, Wexford, Kerry, Kilkenny and Tipperary.
“I’m delighted to welcome Keaney Insurance Brokers to Gallagher,” said Mr Foley. “I have known the business for a number of years and have always admired their professionalism, expertise and the way they take time to really understand their clients’ needs and the risks they face.
“The acquisition will increase our presence in Dublin following our acquisition of First Ireland earlier this year and add to our expertise nationally.
“As the insurance market continues to consolidate, our ability to help smaller brokers grow and expand demonstrates why Gallagher is the partner of choice for brokers in Ireland.
“We remain on the lookout for further acquisitions, which match Gallagher’s culture, whilst continuing to grow our business organically.”
Mr Keaney said he believed the company had found “the ideal partner” to take the business forward.
“This is an excellent opportunity for our clients to partner with one the leading insurance brokerages in the world. They will benefit from Gallagher’s scale, expertise and purchasing power, which will be of enormous value.
“In addition, our staff will benefit from the increased opportunities of being part of a large, global firm with impressive growth aspirations.”
