Leitrim Insurance brokers plans ambitious expansion following share buy-back

Leitrim company Brady Insurance, with offices in Carrick-on-Shannon and Dublin announced the buy-back of its majority ownership from Coverys Ireland Holdings Ltd earlier this month.

The original shareholders, including managing director Jane Brady, exercised their option to regain full ownership, re-establishing Brady Insurance as a fully, privately owned brokerage. 

The company, in its 65th year as one of Ireland’s longest established insurance brokers, is embarking on an ambitious expansion drive, with a focused acquisition strategy aimed at increasing its domestic market share.

Building on its 2022 purchase of Loftus Insurance in Roscommon, Brady Insurance is targeting further acquisitions and growing its 40-strong team in Carrick-on-Shannon and Dublin.

Brady Insurance recorded €21 million in Gross Written Premiums (GWP) and €4 million in revenue in 2024. They aim to reach €30 million in GWP within five years, as it builds on its strong presence in both commercial and insurance markets.

The buy-back and expansion plans come amid ongoing consolidation in the Irish insurance sector, with increasing competition among brokers. 

Jane Brady, who has led the company since 2004, said: “The decision to return to full ownership reflects confidence in our position and potential. This allows us to shape our future growth while continuing to prioritise the personalised and specialised service our clients value.

Leitrim company wins big at 2024 Broker Expert Awards

Brady Insurance has won the title of Commercial Lines Expert Broker 2024 at the 2024 Broker Expert Awards,

“We are excited to continue to expand our presence across Ireland with a focus on other brokerages aligned with our business model and ethos. We also have plans to expand our team to support the company’s growth trajectory.”

It follows Brady Insurance’s 2021 sale of a majority stake to CEH, a European agency platform, and subsequent growth under this structure. 

Coverys International Insurance Company will continue to work with Brady Insurance, providing insurance capacity for specialty liability products in the Irish market.

Brady Insurance also offers liability insurance for events, sports and community events through Eventinsure.ie and the company recently won Commercial Insurance Broker of the Year 2024 from Brokers Ireland.

Director Claire Dumbrell, who leads the company’s Dublin operations, said the company had identified further opportunities for growth across its core markets. 

“We have always prided ourselves on being ahead of the curve. This buy-back gives us the agility to respond directly to client needs while pursuing new opportunities. 

“We’re building on a strong foundation to deliver even greater value to our clients and stakeholders. This is just the beginning of an exciting new chapter.”

READ MORE: IN PICTURES: Credit Union in Leitrim announces €18million in assets at AGM