Major insurance broker Frank Glennon is sold

The purchase of the family-owned Glennon will mean Arachas will employ over 600 people in Ireland. 

One of the country's largest insurance brokers, Frank Glennon Limited, has been sold, in the latest transaction that puts the spotlight on the profitability of the Irish insurance industry. 

Arachas Corporate Brokers, an international group which is incorporated in Jersey, plans to buy the family-owned Irish broker, which is a major adviser for many Irish businesses across a wide range of industries, including construction, medical, retail, professional services, and property.