Gallagher has announced (17 January 2023) it has acquired First Ireland Risk Management Limited (First Ireland).
Founded in 1982, the Dublin based firm employs over 120 risk professionals, and offers a range of commercial and personal lines insurance, plus life and pensions products. Terms of the transaction were not disclosed.
First Ireland has a client base of over 35,000 customers split circa 70% commercial and 30% personal lines. Insurance products offered by the firm include commercial combined, combined liability, professional indemnity, motor fleet, property, plus home and motor insurance. Its life and pensions team offers advice and solutions across four key areas: protection, pensions and retirement, group risk and group pensions plus financial planning.
Gallagher has been scaling up its operations in Ireland over the last 12 months having acquired Innovu in June and Doyle Mahon Insurances in November. With this latest acquisition, Gallagher will have a team of over 275 people supporting clients across Ireland. The addition of First Ireland will see Gallagher become one of the largest insurance brokers in Ireland, with further growth to come organically and from additional acquisitions in 2023 and beyond.
The First Ireland team will become part of Gallagher’s UK & Ireland Retail division, which looks after the insurance and risk management needs of over 1.3 million customers and employs over 3500 people across its office network. The existing joint Managing Directors of First Ireland, Tony Gill and Linda Gallagher, will remain with the business and will report to CEO of Gallagher in Ireland, Ronan Foley.
Michael Rea, CEO of Gallagher’s UK & Ireland Retail division, said: “First Ireland is a great business that further strengthens our presence in Ireland and I am delighted to welcome Tony, Linda and the wider team to Gallagher. Culturally we are a great fit and this agreement provides us with a fantastic opportunity to add further expertise and talent to Gallagher. We now turn our attention to bringing together our businesses and combining our capabilities for the benefit of all our clients.”
Ronan Foley, CEO of Gallagher in Ireland, added: “We are delighted to join forces with First Ireland and this represents a significant step forward for Gallagher in Ireland. It provides us with a strategic presence in Dublin from which we will continue to expand our nationwide footprint. First Ireland is a business we have always admired and its specialist expertise will strengthen our overall offering as we enter this new and exciting phase for Gallagher. We look forward to working with the entire First Ireland team.”
Tony Gill, Joint Managing Director of First Ireland, added: “Gallagher is the perfect home for our clients and for our people. The team is excited to be joining forces with a well-established global firm that has earned a strong reputation for its ethical approach. This development is great news for clients, as they will retain the personal service they are used to from the team that they know, and can additionally take advantage of Gallagher’s scale and expertise. We look forward to being part of Gallagher and building on our existing momentum as one of the go-to insurance brokers in Ireland.”