US-based brokerage AssuredPartners is buying Irish firm O’Callaghan Insurances (OCI) for an undisclosed sum.
“We are delighted to be able to expand our presence in Ireland so soon after acquiring GMIB earlier in the year,” AssuredPartners UK & Ireland chief executive David Heathfield was quoted by a Louth Live report as saying. “With its sector expertise on the retail side and its wholesale capabilities, OCI provides us with another powerful tool in helping us to become a major player in the Irish marketplace.”
Founded in 1949 by the grandfather of OCI managing director Caeva O’Callaghan, the family business employs more than 50 people and specialises in arranging farm, commercial, and personal cover. OCI has offices in Dundalk, Navan, and Monaghan.
Heathfield added: “Caeva and the O’Callaghan family have built an incredibly successful business over the years, and we feel privileged to be able to partner with them going forward. It’s an exciting time to be part of our expansion in Ireland, and we expect to be announcing further deals in the near future.”
Commenting on the deal, which is expected to close on December 1, O’Callaghan cited OCI’s long history.
She stated: “I’m incredibly proud of the part that OCI has played in the lives of our clients over the last 70 years. We have a great team of people, and there is so much more that we want to achieve.
“The prospect of being able to do that working alongside my new colleagues in Ireland and internationally, without having to sell the soul of the company, means so much to me and is really the perfect outcome.”
Described as a fast-growing insurance broker, AssuredPartners was established in 2011 with headquarters in Florida.