Brown & Brown Inc., the Daytona Beach, Fla.-based broker, announced it has entered into an agreement to acquire the general insurance operating companies of O’Leary Insurances (OLI) in Ireland.
The transaction is expected to close in January 2021, subject to certain closing conditions. Financial details of the deal were not disclosed.
Headquartered in Cork, Ireland, OLI was founded in 1961 by Archie O’Leary. In 1979, O’Leary’s son Anthony O’Leary joined the firm, and it has remained a family-run business for the past 59 years. OLI has grown to become Ireland’s largest independently owned brokerage with over 200 employees operating from eight locations, including Cork, Dublin, Galway and Waterford.
The OLI team specializes in providing a high level of customer service for commercial and personal insurance needs throughout Ireland and abroad. The OLI team will continue to operate from their current locations under the leadership of Anthony O’Leary, Diarmuid Nolan, Brian Lennon, Michael Tarpey and Rossa Williams.
OLI will report to Barrett Brown, president of Brown & Brown Retail.
“We are extremely pleased with the relationship we have developed with Anthony and Diarmuid while considering joining with the O’Leary Insurances team to establish Brown & Brown’s flagship in Ireland,” according to Barrett Brown.
“Like Brown & Brown, O’Leary Insurances grew from a family-owned business to a leader in the Irish brokerage market by empowering its teammates to succeed. We are fully confident that we share with OLI the same culture of customer focus by providing unique risk solutions that meet each customer’s needs,” Brown continued.
“We are delighted to join the Brown & Brown group of companies and view this progression as a huge positive for both the O’Leary Insurances team and our valued customers,” commented Anthony O’Leary.
“We view Brown & Brown’s choice of an Irish company as their European gateway to be a strong endorsement of this country, and O’Leary Insurances are delighted to join an organization whose culture and values are so similar to our own in so many respects,” he added.
Source: Brown & Brown Inc.
Topics Mergers & Acquisitions Agencies
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