- CCPC cleared €70m deal
- Ciaran Mulligan founded Blue Insurances
CCPC have cleared the buyout of Blue Insurance by CoverMore.
A short posting on the CCPC website said: The proposed acquisition by Zurich Group, through its wholly-owned indirect subsidiary Cover-More Australia Pty Ltd, of sole control of Blue Insurance Limited and its subsidiary, Blue Insurances Australia Pty Limited, has been cleared by the Competition and Consumer Protection Commission.
Blue Insurances, founded in 2003 by Ciaran Mulligan and Rowan Devereux, was sold for a speculated €70m to Australian based Cover-More, which is part of Zurich Insurance Group and the umbrella group for Zurich’s global travel insurance and assistance business. Co-founder and Managing Director of Blue Insurance, Ciaran Mulligan, and his executive team will remain with the company.
Cover-More Australia Pty Ltd is part of the Zurich Group of insurance companies. Cover-More Group provides travel insurance services, medical assistance and employee assistance cover,
Blue insurance Limited is an Irish-owned insurance company and is active in car, home, travel, gadget, car hire excess, pet, wedding, motor breakdown and bicycle insurance. Blue Insurance Limited trades in Ireland, the UK and Australia.
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