Global insurance broker Gallagher has acquired commercial and agriculture insurance broker Doyle Mahon Insurances (Doyle Insurance Brokers (Wexford) Limited).
The deal, of which the transaction terms remain undisclosed, aims to bolster Gallagher's presence in Ireland and demonstrate its commitment to growing its customer and employee base in the country. Under the agreement, clients will continue to have the same day-to-day contacts for their individual business and insurance requirements, as well as access to a larger suite of insurance products and services and Gallagher's global buying power.
Gallagher Ireland CEO Ronan Foley (pictured left) welcomed Doyle Mahon Insurances' acquisition, commending the well-established name in professional insurance broking it has built over the last 13 years.
He said: “As the market continues to consolidate at pace, 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 are the right fit for Gallagher while also continuing to grow our business organically. Over the next few years, we will establish Gallagher as the go-to broker in Ireland.”
Michael Rea, CEO of Gallagher's retail division, UK & Ireland, also commented on the deal and said: “It is fantastic to welcome the Doyle Mahon team to Gallagher. The business is a great fit with our existing operations in the country, and its location in Wexford will scale up our network further. The bringing together of the teams we now have in Ireland, coupled with the global scale and reach of Gallagher, gives us a great platform for further expansion.”
Meanwhile, Doyle Mahon Insurances director Colm Mahon (pictured right) offered assurances that it will be business as usual for the broker's customers.
“We are very pleased to become part of Gallagher's ambitious growth plans. The Gallagher team shares our values, and its focus on great client service fits well with what we do best – looking after our customers,” Mahon said. “[Customers] will continue to be supported by our excellent team in Wexford; however, by becoming part of a global business, we can further enhance our service and product offering.”
Doyle Mahon Insurances joins Gallagher following the global brokerage's acquisition of Innovu. Innovu has officially integrated with the broking giant and will rebrand to Gallagher on November 07 - marking the firm's first direct presence in Ireland.
