U.S. based global insurance broker Arthur J. Gallagher & Co. reports it has purchased Wexford, Ireland-based INNOVU Group Holding Co. Terms of the transaction were not disclosed.
Founded by Ronan Foley in 2018, INNOVU Insurance is a retail insurance broker offering commercial and personal insurance, as well as other financial services, from seven offices throughout Ireland.
The company said Foley and his associates will continue to operate from their current locations, reporting to Michael Rea, who runs Gallagher’s retail property/casualty brokerage operations in the UK and Ireland.
J. Patrick Gallagher, Jr., president and CEO, said the deal gives his firm its “first on-the-ground presence in Ireland and a fantastic opportunity to expand in this growing economic region.”
Gallagher provides insurance brokerage, risk management and consulting services in 130 countries.
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