Brown & Brown Inc. has agreed to buy Cork, O & # 39; Leary Insurances Ltd., Ireland, the broker announced on Wednesday.
The terms of the deal, which is expected to be completed in January 2021, were not disclosed.
The acquisition is Brown & Brown's first in Ireland and its first business in Europe outside the UK, says a Brown & Brown spokeswoman.
O & # 39; Leary Insurances is independently owned and has around 200 employees in eight locations across Ireland, according to a statement from Brown & Brown.
Anthony O & # 39; Leary, CEO and majority owner of O & # 39; Leary Insurances, said in the statement: “We see Brown & Brown & # 39; s choice of an Irish company as their European gateway to be a strong supporter of this country. ”
Mr. O & # 39; Leary and other senior executives will remain with the company after the acquisition and report to Barrett Brown, president of Brown & Brown Retail, the statement said. Brown said in the statement.