In June 2023, US based Liberty Mutual Insurance announced the sale of its personal and small business operations in Western Europe, including Liberty Insurance, to Generali Group.
The Irish unit was sold as part of a wider deal worth €2.3bn.
Liberty Mutual first entered the Irish market in 2011 through an acquisition of parts of the former Quinn Insurance business and offers personal car and home insurance there, as well as business products.
Generali reported that Liberty Insurance will now be rebranded as RedClick here, with the insurer also set to add property and casualty insurance products to its offerings.
RedClick will also continue to serve the existing customer base of more than 250,000 customers in Ireland who already own insurance solutions from its current motor and home offer.
It also plans to continue to partner with 250 broker agencies across the country and will also connect with customers through its direct channels.
Currently, the business employs over 400 employees across its offices in Cavan, Enniskillen and Dublin.
Generali has also appointed Lorenzo Ioan as general manager for RedClick in Ireland and Northern Ireland.
Previously Mr Ioan was head of business transformation at the group’s international business unit.
The Italian group will continue to support the Irish Wheelchair Association’s annual ‘Run’n’Roll’ race which was previously sponsored by Liberty Insurance for a number of years.
Generali currently operates in over 50 countries across the world, serving around 70 million customers.
It recorded a total premium oncome of €82.5bn in 2023.
“We are delighted to launch RedClick in the Irish market combining the expertise of our talented local team with the robust capabilities of Generali Group, and we are convinced that Lorenzo Ioan will be a great support in this new phase,” deputy chief executive of insurance Jaime Anchústegui said.
He added that the company welcomes the opportunity to “deepen our relationships with our existing Ireland-based customers and brokers and are excited to engage with new customers as well as bring renewed competition to the Irish market.”
Earlier this year, Bloomberg reported that Generali was considering a number of other takeovers as part of its growth plans, with some potential deals worth more than €10bn, according to sources familiar with the matter.
