It is with great sadness that Boal & Co today announces the sudden death of its Founder and Chairman Gary Boal.

Gary was an entrepreneur and visionary, who in the past 20 years developed the Boal & Co Group into one of the largest offshore actuarial and pension trustee firms.

Boal & Co was established by Gary in 1995 to meet the actuarial needs of the developing offshore insurance market. Over the past 20 years he was instrumental in the start-up of a number of blue chip insurance companies in the Isle of Man, Dublin and other offshore jurisdictions. He also held a number of appointed actuary roles for local and offshore insurance companies.

Gary, who was 52, was recognised as an expert in the field of offshore pensions, where his technical knowledge was considered second to none. He will be remembered for the articles that he penned for local and international press on a number of retirement and insurance topics, as well as the industry papers he wrote.

Gary was born in Bangor in Northern Ireland and moved to the island in 1986. He lived in Ballasalla with his wife Allie and son Conor.

Mark Kiernan, Chief Executive of Boal & Co said: ‘Today we are in a state of shock. I have worked with Gary for over 20 years, and I am proud to say that he was not just a colleague, but also a good friend. His drive and passion for work was captivating, as was his ability to turn complex situations into achievable goals. He was a great leader and mentor, from which many have benefitted. Our thoughts of course at this time are with his immediate and extended family, whom we hope will find some comfort in the fact that the legacy he has built will continue to flourish under the existing Boal & Co team.’