Deals in the Irish insurance broker market are coming thick and fast as private equity appetite for consolidation meets the rising cost of regulation in a fragmented market with an attractive income profile. The firm is owned by Ardonagh, the UK’s largest independent broker, which is now planning to replicate its piecemeal consolidation approach – backed by US private equity money – in the European market. Something similar is happening with personal insurance, such as motor and home insurance, but what matters there is the strength of the brand. The combination of Chill and Quote Devil under one ownership umbrella is truly formidable. Quote Devil – although maybe one-fifth the size of Chill – is easily as well-known, with one of the most recognisable brands in the business.

Source: Irish Independent April 08, 2022 06:33 UTC