Three Rock Group buys Dublin dealer Chrome Insurance coverage – RTE.ieAugust 18, 2022
Three Rock Group, the personal fairness backed car that owns Chill Insurance coverage, Quote Satan and Ivernia, has purchased Dublin based mostly dealer, Chrome Insurance coverage.
Monetary particulars of the deal weren’t disclosed.
It’s the newest addition to the Three Rock Group portfolio and follows its acquisition of Chill Insurance coverage in April.
It additionally marks the most recent consolidation transfer within the Irish insurance coverage dealer market, following a interval of intense merger and acquisition exercise.
Presently providing dwelling and motor insurance coverage and using 10 workers, Chrome Insurance coverage was based in 2009 by Barry Sheridan, Gerard McCann and Emmet Graham.
“The staff and I are delighted to be a part of the Three Rock Group and imagine the alternatives for all firms are elevated given the depth of expertise this creates,” stated Barry Sheridan, Director, Chrome Insurance coverage.
“We imagine our prospects shall be higher served by the improved capabilities we and the Group can ship.”
In 2006 brothers Seamus and Padraig Lynch based Chill Insurance coverage.
Fourteen years later, in June 2020, they bought a majority stake to UK personal fairness agency Livingbridge, which led to the inspiration of Three Rock.
Chill is the most important middleman within the nation with 230,000 prospects and 278 workers.
Three Rock has additionally added Ivernia and Quote Satan to its group.
“We’re repeatedly seeking to carry worth and scale to the market and imagine this acquisition shall be for the advantage of each the Group and Chrome’s prospects,” stated Michael McLaughlin, CEO of Three Rock Group.
“With this acquisition we proceed to develop our presence in private traces insurance coverage inside the Irish market and assist ship our mission to carry Irish customers alternative and competitors.”
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