Insurance

Commercial insurance premiums to ‘fall by 50% this year’ in huge reprieve for firms

Colm Kelleher, managing director of LHK Group, said the M&A spree in the sector has been driven by international investors

Colm Kelleher, owner and managing director of LHK Group, the Leinster-based insurance brokerage, said the government’s reform of the insurance market is starting to work. Picture: Fergal Phillips

Businesses are in line for a 50 per cent cut in commercial premiums in a long-awaited reprieve for hard-pressed firms, the head of one of Ireland’s largest indigenous insurance brokers has said.

Colm Kelleher, owner and managing director of LHK Group, the Leinster-based insurance brokerage, said the government’s reform of the insurance market is starting to work, adding that business owners in sectors such as retail and leisure in line for large double-digit biggest drops.