Arthur J. Gallagher & Co. today announced the acquisition of Wexford, Ireland-based INNOVU Group Holding Company Limited (“INNOVU Insurance”). Terms of the transaction were not disclosed.
Founded by Ronan Foley in 2018, INNOVU Insurance is a retail insurance broker offering a broad variety of commercial and personal insurance products and services, as well as financial services, to clients across a diverse range of industry sectors from seven offices throughout Ireland. Ronan 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.
“INNOVU gives us our first on-the-ground presence in Ireland and a fantastic opportunity to expand in this growing economic region,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “We are delighted to welcome Ronan and his colleagues, and look forward to working with them to further expand their client base and service offerings.”
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.