Zurich agreed on 9 March to acquire Generali's non-life insurance business in Ireland and Northern Ireland, which trades as RedClick, for €337m in cash.
Why Zurich Insurance Group is buying Generali Ireland P&C (RedClick)
Zurich said the purchase fits its EMEA retail strategy and would put it among the top three life and non-life insurance providers in Ireland. Generali said the sale reflects its focus on core markets where it already has scale and leading positions.
“This is an important and exciting milestone for our business and reflects Zurich's long-term commitment to the Irish insurance market.”
Deal terms and financing
The €337m cash price is subject to customary adjustments. Generali Spain will keep €51m of excess capital allocated to the operations. Generali expects a capital gain, an immaterial impact on adjusted earnings per share and about a one-point lift to its Solvency II ratio.
Regulatory approvals and timing
The deal needs legal and regulatory approvals. Ireland's Competition and Consumer Protection Commission cleared it on 8 June 2026 (case M/26/030). Zurich expects completion by the end of 2026 or early 2027.
Market context
The business wrote €167m of gross premiums and earned a €17m operating result in the first nine months of 2025. The deal came a week after Zurich agreed its £8.1bn takeover of Beazley.
