Insurance intermediary Howden Ireland has agreed its fourth acquisition since October with a deal to buy Clonmel-based John A. O'Sullivan Insurances Ltd.
Led by Sean O'Sullivan, son of founders John and Patricia O'Sullivan, the brokerage provides a wider range of commercial lines and personal lines insurance, including life and pensions services to clients in Tipperary and the surrounding counties.
The latest accounts for O'Sullivan's shows turnover of €1.3m and operating profit of €95,900 in 2023.
The company has €633,300 in cash stocks and €350,000 in retained earnings. Employee numbers were stable at 15.
The deal brings Howden closer to its goal of having a local office in every main town in every county in Ireland, and the company said it would be a key acquisition in the south of Ireland.
“I am excited to welcome Sean, Patricia and the team at O’Sullivan’s to Howden. This is a key milestone for us and indicates our commitment to become the local broker of choice across Ireland," said Robert Kennedy, CEO of Howden Insurances.
"Howden is built on great relationships with our insurers, clients and employees. The O’Sullivan business operates a similar ethos which makes them a perfect fit for us.
"We look forward to working with Sean and the team to introduce comprehensive Insurance, Advisory, and Mortgage services to all clients, new and existing, in the region."
Howden has recently agreed deals to buy Martin and Garvan Insurances Ltd in Drumcondra, Keane Pension & Investment Consultants Ltd in Smithfield, and Alliance Insurance Brokers in Skerries.
Sean O'Sullivan, managing director of O'Sullivan's, added: “Becoming part of Howden is truly exciting and is the right move for our business, our employees, but most importantly, our clients.
"Our success to date is due to our dedicated staff and loyal client base who receive high quality general insurance services backed by strong long-standing relationships with our insurers.
"Howden’s global business will provide additional innovative insurance solutions and allow us to access Advisory and Mortgage expertise tailored to our client’s needs.
"We are delighted to be part of this very exciting company and its plan for growth plans in Ireland."
Howden Ireland has over 500 staff across 29 local offices and advises clients on commercial insurance, personal insurance, health insurance, life and pensions and mortgages.
Howen Ireland is part of the Howden global insurance intermediary group, which employs 20,000 people in 55 countries and handles $38bn of premiums on behalf of its clients.
Photo: Robert Kennedy. (Pic: Supplied)
