Irish-owned ReSure bought by US-headquartered broker

Irish-owned ReSure Corporate Brokers has today (11 April 2022) been bought by US-headquartered NFP, a property and casualty broker. 

Dublin-based ReSure was established over two years ago and is a specialist corporate broker. It currently employs 14 people and generated gross written premiums of more than €24m in 2021.

The directors and full team at ReSure will continue in their roles and remain fully engaged in the growth of the business, working with NFP to bring added value to new and existing clients.

NFP, which also specialises in general insurance, corporate benefits, retirement and individual solutions, will expand its capabilities and expertise in Ireland as a result of the deal.

Aidan Brady, managing director at ReSure said: “In NFP, we have found a likeminded partner with shared values that will help us accelerate and achieve this plan and help to create further opportunities for our talented team to continue to thrive and prosper.

“Our ambition at ReSure is to continue our incredible growth journey to scale the business and support our clients as they expand into new markets and sectors.

“In joining the NFP family, we also see great value in integrating our insurance solutions and services with NFP’s corporate benefits and wealth management clients.

“I cannot let this moment pass without acknowledging the overwhelming support we have enjoyed from our loyal clients and our excitement in continuing our strong partnership for years to come.”

Quality over quantity

This marks NFP’s third acquisition in Ireland within the past two years, having acquired local brokers HMP Insurance and Pension Advisors and Aiken Insurance Limited.

John Paul Allcock, UK and Ireland managing director at NFP, said: “NFP always looks for quality over quantity and the market feedback about ReSure’s business, culture and management team was exemplary.

“We have acquired a terrific business with great clients and extremely talented brokers and client managers. Most importantly, we are confident they will fit into the culture of NFP, which encourages independence, entrepreneurial spirit, ethics, and a focus on doing the right thing for employees and clients.”

ReSure has focused on enhancing its specialist capabilities by supporting complex risk placements in restructuring, recycling, real estate, construction, domiciliary homecare and financial lines, among others.

The Irish broker’s directors, Brady, Ross Barron and Garry Fitzroy have built on their combined deep experience over two decades working in the global and local insurance broking environment.

Meanwhile, Matt Pawley, NFP’s managing director in Europe said: “We are delighted to welcome the ReSure team to the NFP family. They are a great fit in terms of people, expertise and attention to customer service and relationships.

“We are very confident they will make significant contributions that elevate our business further in Ireland and across Europe as we continue to expand and seek new opportunities for growth, both organically and through additional smart acquisitions.”