Insurance group Three Rock Group has acquired Dublin-based insurance broker Chrome Insurance in a deal it said would cement its position as Ireland's leading insurance group.

The deal comes quickly after Three Rock's purchase of Quote Devil and the group, established in June 2020, also comprises of leading independent personal lines insurance broker Chill and captive managing general agent Ivernia.

Three Rock said the acquisition represented a fantastic opportunity to further expand its footprint in Ireland and the Chrome Insurance's "strong customer-centric approach" and "skilled team" of 10 are in line with the group's growth strategy and in keeping with its values.

Chrome Insurance was founded in 2009 by Barry Sheridan, Gerard McCann and Emmet Graham and offers home and motor insurance in Ireland.

"We are delighted to welcome the Chrome Insurance team to the group," said Michael McLaughlin, CEO of Three Rock Group. "We are continuously looking to bring value and scale to the market and believe this acquisition will be for the benefit of both the Group and Chrome’s customers.   

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"With this acquisition we continue to grow our presence in personal lines insurance within the Irish market and help deliver our mission to bring Irish consumers choice and competition.”

Sheridan, director of Chrome Insurance, added: "The team and I are delighted to be part of the Three Rock Group and believe the opportunities for all companies are elevated given the depth of experience this creates. 

"We believe our customers will be better served by the enhanced capabilities we and the group can deliver.”

Three Rock Group's Chill is Ireland's largest insurance intermediary with 230,000 customers and 278 staff, while Ivernia has exclusive distribution with both Chill and Quote Devil. Livingbridge, which has a majority stake in Three Rock Group, supported the transaction.

(Pic: Getty Images)