Blue Insurance is said to be up for grabs, with advisors reportedly waiting in the wings.
“The company’s managing director, Ciaran Mulligan, denied the company was looking for a buyer, saying it was looking to expand and enter into the Spanish market next year. However, the
Sunday Independent understands advisors have been appointed as part of a sales process,” said the paper.
Blue Insurance is a fully Irish owned enterprise established in October 2003 by Mulligan and Rowan Devereux. The company currently has approximately 350,000 customers.
Initially set up as a travel insurance wholesale provider for the Irish travel trade in Ireland, Blue Insurance now has direct insurance markets including car, home, travel, gadget, car hire excess, pet, wedding, motor breakdown, and bicycle.
The report said investment fund Carlyle Cardinal Ireland may be among the interested parties.
Related stories:
Major online broker continues UK expansion
