Post-acquisition, OLI’s team will continue to be based at their existing locations
O’Leary Insurances to be acquired by US insurance brokerage Brown & Brown. (Credit: Gerd Altmann from Pixabay)
Brown & Brown has signed an agreement to acquire the general insurance operating companies of Ireland-based insurance brokerage O’Leary Insurances (OLI) for an undisclosed price.
OLI, which was established in 1961, has continued to be a family-run business. The Irish insurance brokerage has more than 200 employees operating across eight locations, which include Cork, Dublin, Waterford, and Galway.
The team of OLI provides solutions that address the commercial and personal insurance requirements of clients across Ireland and overseas.
OLI is said to have a quality management system in place, which empowers its offices and employees while ensuring that all the requirements of its customers are met.
Post-acquisition, OLI’s team will continue to be based at their existing locations and work under the leadership of Anthony O’Leary, Brian Lennon, Diarmuid Nolan, Michael Tarpey, and Rossa Williams.
O’Leary said: “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 organisation whose culture and values are so similar to our own in so many respects.
“We are particularly pleased to bring the strength and experience of one of the world’s largest insurance brokers to the Irish market and are confident that this will be of immense benefit to all in the years ahead.”
OLI’s operations will be overseen by Brown & Brown retail president Barrett Brown.
Brown said: “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.”
The transaction is expected to close in January 2021, subject to certain closing conditions.
Brown & Brown is a US-based insurance brokerage firm that caters to individuals and businesses with risk management solutions.
Last month, the company acquired almost all of the assets of CoverHound, a California-based digital insurance marketplace, and also its fully-owned subsidiary CyberPolicy.