Klap, the Dutch based insurance firm, is to be acquired by the European arm of the UK based Ardonagh Group.
Ardonagh Europe is led by Dubliner, Conor Brennan, who also leads Irish based broker Arachas.
A specialist commercial insurance broker, Klap had been owned by Nedvest.
Based in Amsterdam, it was founded in 1854 and advises small and medium sized firms on employee benefits, insurance, and pensions, distributing over €100m of gross written premiums each year.
Ardonagh Europe has been active in the Dutch market since last year, when it bought Léons Group.
"This is a hugely complementary acquisition, aligning neatly with our Group's footprint both internationally and in the European market," Mr Brennan said.
"Alongside the vast expertise of Léons, Klap further diversifies our portfolio and our customer base in The Netherlands, creating a strong platform to accelerate our growth ambitions in the region."
Klap’s management team, including CEO Jorg Roodbeen and Tim Kreté, is set to remain with the business and Ardonagh said the Dutch team is committed to the next phase of growth.
"I am delighted that two insurance brokers with a long history have found each other with the support of a strong international shareholder," said Mr Roodbeen.
"The combination of Klap and Léons results in a unique collaboration. In recent years, we have been on a great journey to place ourselves on the map as a leading adviser for SMEs."
The deal is being paid for using Ardonagh’s own funds.
Ardonagh Group is the UK’s largest independent insurance broker, with 100 locations and a workforce of 7,000.
In July 2020 it completed its takeover of Arachas.
The deal was one of a large number in recent years driven by consolidation in the Irish insurance sector.
