Coverys European Holdings (CEH) & Brady Insurance have acquired Loftus Insurance Brokers.
The new combined entity will be run by Jane Brady as managing director, with Liam Loftus assisting their management team in a consultancy role. Loftus Insurance Brokers was set up in 2000 consolidating three existing brokerages.
The deal adds to CEH taking a majority stake in Brady Insurance in August. Back then, it took on 51% of the company.
Jane Brady, managing director, Brady Insurance, said: “We are delighted to expand our capabilities and footprint with the acquisition of Loftus Insurance. Liam and his team have built an exceptional business which is recognised for its local expertise and commitment to service.”
She added: “This complements our philosophy and we look forward to working with Liam and his outstanding team to drive the business forward. We have clear aims for growth and with the Loftus team joining us, it strengthens our capabilities. I am looking forward to working with them as we continue to roll out our growing suite of services across Ireland.”
The acquisition of Loftus Insurance by Brady Insurance takes the company’s headcount in Ireland to 33. It is the CEH network’s fifth acquisition since its launch in January 2020.
The acquisition of Brady Insurance was the fourth since the inception of the CEH network in January 2020, following previous acquisitions of the AEC Wholesale Group, Bridge Insurance Brokers, and Gava Underwriting.
