The Italian insurance behemoth, Generali, has recently undergone a rebranding of its Irish acquisition, Liberty Insurance, now known as RedClick. This renaming followed the insurance magnate’s €2.3 billion procurement of the Irish enterprise, which was consolidated with the additional acquisition of Liberty Mutual’s insurance operation from the United States in Portugal and Spain. This move marked a triumphant resurgence of the Italian firm to the Irish general insurance terrain, after a 23-year hiatus that ensued in the closure of its Dublin branch, which focused on property, casualty and commercial insurance.
RedClick, managed by Lorenzo Ioan—a recent major proponent in the company’s international business and a group executive—will commence operations on the island of Ireland next week. The kickoff for the novel brand comprises a considerable consumer base of 250,000 and over 400 personnel spread between their offices in Cavan, Enniskillen and Dublin. Renowned as a top-tier insurance and asset management provider, Generali operates across 50 countries, boasting a workforce of roughly 82,000 serving a clientele of 70 million.
The launch of the RedClick operation in Ireland underscores Generali’s dedication to enlarge its presence in the Irish market, providing avant-garde insurance solutions tailored to the changing demands of Irish consumers while simultaneously augmenting local competition. Several companies, including Generali, have taken recent strides into Irish market penetration, riding on a wave of reforms aimed at trimming instability and insurance expenditure in a market renowned for its volatility, even by global insurance standards.
The South African insurance group Outsurance unveiled its Irish motor and home coverage package in May, accompanied by the fintech firm Revolut making its debut into the Irish motor insurance sector, backed by AIG underwritten policies. American firm Liberty Mutual’s foray into the Irish market dates back to 2011, when it took control of the main branches of Quinn Insurance. The latter’s financial adversities led Liberty’s Irish division to merge into Madrid-based Liberty Seguros in 2018, effectively making it a subsidiary of the Spanish company.