Latest news with #MannionInsurance
Irish Independent
25-05-2025
- Business
- Irish Independent
Big-ticket insurer Brady boosts presence out West with Mannion brokers buy – as consolidation in sector continues
It strengthens Brady's presence in the West of Ireland at a time when the industry is experiencing rapid consolidation, said managing director Jane Brady. Carrick-on-Shannon based Brady's is a market leader in the provision of insurance to big events such as Dublin's St Patrick's Day parade. 'We believe in the strength and future of independent brokers in Ireland - and in putting customer relationships ahead of aggressive scaling targets,' said Brady. Founded in 1985 by Jim & Denise Mannion, Mannion Insurance's office in Strokestown will continue to operate with the existing team of eight in place. 'Over four decades Mannion Insurance has earned a reputation for personal service and trust – we aim to build on that legacy by bringing additional resources and digital capabilities to further enhance the customer experience,' said Brady. Brady Insurance is a market leader in insuring major events such as Dublin's St Patrick's Day parade Headquartered in Leitrim and with an office in Dublin, Brady Insurance employs 40 staff and generated €21m in gross written premiums last year, with a target to grow to €30m over the next five years through 'measured acquisitions' and the continued expansion of Brady Underwriting, a specialist platform that provides over 200 brokers nationwide with niche products such as liability cover for major events, festivals, film and TV. Brady recently bought back a 51pc stake she had previously sold to Boston-based Coverys European Holdings in 2021. 'There's a place for the big players, but also for firms like ours that are rooted in local knowledge and relationships,' said Brady. According to Renatus, 18 insurance-related firms changed hands in the first nine months of last year alone, and analysts predict that Ireland's 125 locally owned brokers could shrink to just 10 dominant players in the next five years.
Irish Examiner
25-05-2025
- Business
- Irish Examiner
Brady Insurance targeting €30m in gross written premiums after acquisition of brokerage Mannion
Brady Insurance has acquired brokerage Mannion Insurance, the company confirmed on Sunday. 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.
