Dublin-based Compass Insurance Brokers has been acquired by Belfast firm WF Risk Group as part of the latter’s ongoing expansion in the Irish market.
The transaction, financial terms of which were not disclosed, comes on the heels of leadership appointments at Kennett Insurance Brokers Ireland DAC, a WF Risk Group company.
Commenting on the latest development, Compass director John Mollohan (pictured left) said: “Compass is excited to be part of the WF Risk Group, who are equally committed to delivering client-focussed solutions.
“We are really looking forward to working with Richard and the team on the next phase of our journey. Our complementary strengths and shared values are well matched, and this acquisition promises increased value and enhanced services for our clients.”
Mollohan, who has more than two and a half decades of experience in insurance broking, was referring to WF Risk Group managing director Richard Willis (pictured right). He brings specialist expertise in areas like property, hospitality & leisure, and professional indemnity to WF Risk Group.
“John joins us with extensive insurance broking experience, having established Compass in 2011,” Willis noted. “We are delighted to work with John, combining our strengths and expertise to continue to deliver expert advice to our valued Compass clients.
“Over the years the source of our growth has been both organic and through the acquisition of like-minded companies, such as Compass.
“We look forward to the new synergies and opportunities that this most recent acquisition will create across the group as a whole.”
With offices in cities like Belfast, London, Hull, Leeds, and Dublin, WF Risk Group provides services across insurance, risk management, wealth management, human resources consultancy, and employee benefits. The group is manned by more than 150 people.
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