The Irish branch of Zurich Insurance Europe has agreed to buy RedClick Insurance from Italian insurer Generali for €337 million.
The deal will transform Zurich’s local market position and leave it among the top three non-life and life insurance providers in the Republic, the company said in a statement.
The Irish Times reported in December that Zurich and Intact Insurance Ireland, previously known as RSA Ireland, were among a small numbers of parties still involved in the process as the sale reached an advanced stage.
Generali acquired what was previously known as Liberty Insurance in 2024 as part of a €2.3 billion deal that also involved US-based Liberty Mutual’s insurance operations in Spain and Portugal. It subsequently renamed the Irish business RedClick.
More to follow…