Brady Insurance targeting €30m in gross written premiums after acquisition of brokerage Mannion
Leitrim-based Brady Insurance completed a buy-back of a 51% stake from Boston-based mutual insurance company Coverys European Holdings (CEH) last December. It has now strengthened its position in the west of Ireland with the deal for Mannion Insurance, a long-established brokerage based in Strokestown, Co Roscommon.
'The addition of Mannion Insurance, a business that shares our values and client-first ethos, is a perfect fit for our vision. The acquisition shows how ambitious Irish-owned firms can work together to create value, innovate, and support local employment," said managing director Jane Brady.
Renatus Capital Partners reported that in 2024, there were 22 insurance-related mergers and acquisitions in Ireland, with 15 of these involving private equity-backed buyers.
Headquartered in Leitrim and with an office in Dublin, Brady Insurance employs 40 staff and generated €21m in gross written premiums last year, providing personal and commercial insurance as well as specialist underwriting services. Its target is to grow that figure to €30m over the next five years through acquisitions and expansion of its specialist underwriting arm, Brady Underwriting.
Mannion Insurance, founded in 1985 by Jim and Denise Mannion, will maintain its office in Strokestown with the existing team of eight in place.
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