Coverys European Holdings (CEH) has acquired a 51% stake in Brady Insurance, an Ireland-based insurance underwriting agency, broker and Lloyd’s coverholder.
Brady Insurance, which offers various business and personal lines products, has held Lloyd’s coverholder status since 2013 through its wholesale brand, Brady Underwriting. It is headquartered in Carrick-on-Shannon and has an office in Dublin.
Jane Brady, managing director of the firm since 2005, will continue leading the company, which was established in 1969 by her parents, Joe and Kathleen Brady.
“We are delighted to join the CEH network,” Brady said. “We are excited to further develop our business, which is one of Ireland’s longest-established and best regarded brokerages. CEH will support our journey of providing superior insurance services both nationally and locally. We also have ambitious expansion plans and look forward to drawing on the strength and expertise of the growing CEH network.”
The acquisition of Brady Insurance is the fourth since the CEH network was formed in January 2020, following previous acquisitions of the AEC Wholesale Group, Bridge Insurance Brokers, and Gava Underwriting. CEH is an agency platform and network that invests in MGAs across continental Europe and the UK.
“Brady Insurance is a prime example of the top-quality businesses we are bringing into our expanding network,” said Doug Robare, chief underwriting officer of CEH. “As an independent, the company has stood the test of time over the last six decades – with their impressive performance as a testament to their expertise, the strength of their product base, technology platform and stellar network. Now, as part of the CEH family, I look forward to supporting Jane and her talented team in their next phase of growth.”