Reinsurance News

Coverys takes majority stake of Brady Insurance in Ireland

25th August 2021 - Author: Matt Sheehan

Coverys European Holdings (CEH), an agency platform and network specialising in European markets, has completed a 51% acquisition of Joseph G Brady (Insurance) Ltd. (Brady Insurance), an insurance underwriting agency, broker and Lloyd’s coverholder based in Ireland.

coverysBrady Insurance provides a suite of business and personal lines products from its headquarters in Carrick-on-Shannon, with an additional office in Dublin.

The company has held Lloyd’s coverholder status since 2013 through its wholesale brand Brady Underwriting, an underwriting agency specialising in commercial insurance products for the Irish market.

Following the acquisition, Brady Insurance will continue to be led by Jane Brady, who has served as managing director since June 2005.

“Brady Insurance is a prime example of the top-quality businesses we are bringing into our expanding network,” said Doug Robare, Chief Underwriting Officer of Coverys European Holdings.

“As an independent, the company has stood the test of time over the last six decades – with their impressive performance a testament to their expertise, the strength of their product base, technology platform and stellar network. Now, as part of the CEH family, I look forward to supporting Jane and her talented team in their next phase of growth.”

The acquisition of Brady Insurance is 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.

“We are delighted to join the CEH network,” said Jane Brady, Managing Director, Brady Insurance. “We are excited to further develop our business which is one of Irelands longest-established and best regarded brokerages.”

“CEH will support our journey of providing superior insurance services both nationally and locally. We also have ambitious expansion plans and look forward to drawing on the strength and expertise of the growing CEH network.”

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