Commercial insurance broker Rooney Gallagher has announced that it is changing its name to First Ireland Risk Management. The broker, which employs 55 people and had turnover of more than £16 million last year, said the name was being changed to emphasise the role of the company as one of the leading Irish-owned brokerages.

The broker market for commercial insurance in Ireland is currently dominated by internationally-owned firms like Marsh McLennon and Aon McDonagh Boland.