21 September 2023
By Tom Collins
Acquisition marks 5th deal since entering the Irish market in June 2022
AssuredPartners, one of the largest independently owned insurance brokers in the world, is pleased to announce that it has agreed to acquire Kanturk-based Fitzgerald Insurances – via its pre-existing Irish platform Gallivan Murphy Insurance Brokers Ltd (GMIB.ie). The transaction completed in September 2023.
Located in Kanturk, Co Cork, Fitzgerald Insurances Ltd. provides general insurance broking services in respect over 7,000 commercial and personal policies across the Munster region. Established by Don Fitzgerald in 1968 the family run insurance broker is owned by siblings Kieran and Marion Fitzgerald, who will remain with the business.
Since acquiring GMIB in June 2022, AssuredPartners has also acquired O’Callaghan Insurances in the North-East, O’Donovan Insurances in the Mid-West and most recently, Sayers Insurances in Co Kerry. Post this acquisition, total annual Gross Written Premium [GWP] at AssuredPartners Ireland will exceed €125 million. AssuredPartners expects to add a further €75 million in GWP over the next full calendar year through a combination of organic and acquisition led growth, making it one of the largest players in the broker space in Ireland, with close to 4% market share.
David Heathfield, CEO AssuredPartners UK & Ireland, said: “We are delighted to welcome Kieran, Marion and their team on board. They bring decades of exceptional experience and further enhance our market strength in the South and Mid-West in particular. Fitzgerald Insurances run a great family business that complements our growing network of brokerages that are rooted in community and have a deep understanding of evolving client needs. We remain active buyers of family brokerages building on their local knowledge and supporting them in driving sustainable growth within a very supportive structure.”
Commenting, on behalf of Fitzgerald Insurances, Marion and Kieran Fitzgerald said: “We are both very pleased to join the GMIB.ie family from our base here in Kanturk. We expect business as usual but with even greater access to a deeper pool of expertise and product choices for our customers.”
AssuredPartners is one of the fastest-growing, independent insurance agencies in the United States, UK, Ireland and Belgium. This latest addition to the group follows closely behind UK acquisitions in Birmingham, Chester, Scotland and its recent expansion into Ireland. Founded in 2011, AssuredPartners has acquired in excess of 450 agencies, with offices in 4 countries and 36 states across the US. With more than 10,000 employees, it is one of the largest independently owned brokers in the world.