Coverys acquires Irish Lloyd’s coverholder in expansion move

Coverys European Holdings (CEH), an agency platform and network specialising in European markets, has expanded with the majority acquisition of an insurance underwriting agency, broker and Lloyd’s coverholder based in Ireland.

CEH has acquired 51 percent of Joseph G Brady (Brady Insurance), which provides a suite of business and personal lines products. 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. Brady is headquartered in Carrick-on-Shannon and has an office in Dublin.

The acquisition of Brady 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.

Doug Robare (pictured), chief underwriting officer of CEH, said: “Brady Insurance is a prime example of the top-quality businesses we are bringing into our expanding network. 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.”

Jane Brady, managing director of Brady Insurance, said: “We are delighted to join the CEH network. We are excited to further develop our business which is one of Ireland's 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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