Zurich Financial Services Group said it has acquired Wrightway Underwriting Limited of Wexford, Ireland. Terms of the deal were not released.
Wrightway is a specialist provider of niche solutions in general insurance with revenues of Euro 25.5 million (U.S. $35 million at the current exchange rate) in 2006.
The Zurich, Switzerland-based insurer said the existing management team at Wrightway will continue development activities in their chosen markets. Wrightway has a strong focus in the private and commercial vehicle insurance sector as well as property- and construction-related markets.
Wrightway will still act as a broker placing business for its customers with insurers including Zurich. The business is distributed through a network of brokers nationwide.
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