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Report: Zurich unit leading race to acquire Irish insurance intermediary

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Report: Zurich unit leading race to acquire Irish insurance intermediary

A Zurich Insurance Group AG unit is leading the race to buy Ireland-based insurance intermediary Blue Insurance, The Sunday Independent reported March 4.

Blue has reportedly attracted interest from a number of entities since the sale process started in 2017, with industry sources saying the potential deal could amount to around €50 million. Zurich and Blue declined to comment on the potential deal, according to the report.

The Blanchardstown, Ireland-based firm offers car, home, pet, travel and gadget insurance, with its profit after tax and depreciation standing slightly above €2 million as of 2017-end, the newspaper noted.