Zurich says the acquisition will transform its market position, putting it in the top three providers of both life and non-life insurance in Ireland.<\/p>\n
Generali bought the former Liberty Insurance in January 2024 as part of a bigger European-wide \u20ac2.3bn deal, and later renamed the Irish part of the business as RedClick.<\/p>\n
The deal follows a competitive bidding process, in which several companies were reportedly involved. The acquisition now needs legal and regulatory approvals and is expected to close by the end of this year or in early 2027.<\/p>\n
In a statement, Generali said: \u201cThe sale price is \u20ac337m in cash, subject to certain adjustments at completion as is customary for such transactions. Generali Spain will also retain an additional \u20ac51m of excess capital that is currently allocated to the relevant Irish P&C [property and casualty] operations.<\/p>\n
\u201cThe transaction is in line with Generali\u2019s focus on core insurance markets where the group already holds scale and a leading presence.\u201d<\/p>\n
It said the total value of insurance policies sold in Ireland was \u20ac167m in the first nine months of 2025, generating an operating profit of \u20ac17m.<\/p>\n
The RedClick team and customers will transfer and become part of Zurich\u2019s non-life insurance business<\/p>\n
Anthony Brennan, chief executive of Zurich Ireland, said the purchase was an important milestone for the business and reflected his company\u2019s long-term commitment to the Irish insurance market.<\/p>\n
“Following completion, the RedClick team and customers will transfer and become part of Zurich\u2019s non-life insurance business in Ireland,\u201d he said.<\/p>\n
\u201cWe look forward to bringing together the strengths of Zurich and RedClick to enhance our ability to serve customers, brokers, and partners across Ireland. This investment strengthens our business for future growth and supports our strategy to deliver market-leading customer experience, product capability and innovation.\u201d<\/p>\n
Zurich Life Assurance, which sells pension and investment products, is based in Blackrock, Co. Dublin, and is responsible for funds under management of approximately \u20ac46.7bn, of which pension assets amount to \u20ac39.6bn.<\/p>\n
The wider Zurich Insurance Group, which is based in the Swiss city and has more than 65,000 employees worldwide, says it serves more than 82 million people and operates in more than 200 countries.<\/p>\n
Generali is also a worldwide insurance provider, and asset management consultant, operating in more than 50 countries and with about 87,000 employees serving 71 million customers. It has a total premium income of \u20ac95.2bn.<\/p>\n
After it bought the former Liberty Insurance, Generali appointed Lorenzo Ioan as general manager of the business in Ireland in 2024. At that point the business had about 250,000 customers, and 400 staff in offices in Dublin, Enniskillen, Co Fermanagh, and Cavan.<\/p>\n
It was the Italian company\u2019s first business in Ireland for almost 25 years, after it closed its Dublin office in the early 2000s. However, last autumn it was reported that Generali had hired Bank of America to review options for the Irish operation, and that a sale of RedClick was one of several options being looked at. <\/p>\n
Liberty Insurance had been the Irish operation of the US company Liberty Mutual, having taken over the former business of Quinn Insurance in 2011. It was, in turn, taken over by the Spanish company Liberty Seguros in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"Zurich says the acquisition will transform its market position, putting it in the top three providers of both…\n","protected":false},"author":2,"featured_media":28113,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[128],"tags":[5830,244,309,17191,17012,423,219,249],"class_list":["post-28385","post","type-post","status-publish","format-standard","has-post-thumbnail","category-zurich-insurance","tag-dublin","tag-insurance","tag-italy","tag-john-burns","tag-liberty-mutual-group","tag-spain","tag-zurich-insurance","tag-zurich-insurance-group"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116200239425631414","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/28385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=28385"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/28385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/28113"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=28385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=28385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=28385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}