Business Irish

Sunday 11 December 2016

IFG agrees sale of Irish insurance business

Published 27/08/2015 | 08:00

Paul McNamara, chief executive IFG
Paul McNamara, chief executive IFG

Financial services group IFG has agreed to sell its Irish insurance business, with the deal expected to close in the last quarter of the year.

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The Irish-headquartered company told the stock exchange the sale would conclude a restructuring of the business that started in 2013.

It will now focus on the UK through its financial advisory business Saunderson House and retirement wealth planner James Hay.

IFG revenue rose to £34.5m int he first half, from £34.1m in the same period last year. Profit rose from £4.3m to £4.4m.

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