Innovu Group Holding has today announced a deal to buy Wexford Insurances for an undisclosed sum.
Wexford Insurances was established by Ken and Carmel Lawler in 1995. An equestrian insurance brokerage, it has customers nationwide.
As well as its specialist equestrian business, Wexford Insurances also services the corporate and SME markets.
Today's deal marks the second acquisition by Innovu after the acquisition of Sheridan Insurances - supported by private equity provider MML Growth Capital Partners Ireland - in February of this year.
Innovu said the combined business will generate gross written premium of about €40m in 2019.
Ronan Foley, Group CEO of Innovu, said the Wexford Insurances deal is an important strategic step for the group as it continues to grow its insurance presence in Ireland.
He said that Wexford Insurances will play an important role within the group as its focuses on building scale through organic and acquisition led expansion.
"Having invested in Sheridan Insurances last year, we felt that Wexford Insurances would form a great business fit in line with our development strategy," Mr Foley said.
"We look forward to working with the team, growing the business and building on Wexford Insurances long standing success in providing the very best in customer service, niche insurance solutions and expert advice," he added.
