Limerick insurance brokers acquired by Arachas
O'Malley-Griffin was established in 1948 and provides services across the Mid-West.
Limerick insurance broker O'Malley-Griffin has been acquired by Arachas in a further sign of consolidation within Ireland's insurance sector.
The company, with seven employees, is based in the city centre and provides insurance to both the consumer and commercial sectors. It was established in 1948 and provides services across the Mid-West with a strong tradition in the local and business communities. Financial details of the deal have not been disclosed.
The past five years have been marked by a series of insurance acquisition deals with more than 50 transactions taking place. Arachas has been one of the busiest within this sphere.
It was established in 2003 when Hodgins Percival and Slattery Jermyn, two Dublin-based brokers, merged with Cork-based broker Tyrrell Coakley.
Arachas has since acquired Capital Cover Group, Kidd Insurances, CoverCentre Insurance and Murray and Spelman. In 2020, Arachas was acquired by UK broker the Ardonagh Group.
Last year it acquired Hooper Dolan which includes an office in Limerick.
The Innovu Group and Aston Lark have also been busy in recent years acquiring smaller brokers throughout the country as the battle for market share in what remains a fragmented marketplace.
Managing director Eamon O’Malley said its success over the last 74 years has been built through the dedication, hard work and professionalism of their staff.
"We aim to provide a personal level of service to our customers and we are committed to maintaining this professional standard as part of the Arachas team," he said.
"Joining Arachas will enable us to further expand the level of insurance solutions, claims and risk management services we provide for our clients, with wider access to markets and expertise within the Arachas Group.
"We want to be Ireland’s best broker, according to our clients and our employees," Conor Brennan, chief executive of Arachas and Ardonagh Europe, said.
"As our track record shows, we continue to identify companies that are well-managed and respected, that will thrive in the Arachas family. Our key motivator is to position ourselves better to provide innovative and sustainable insurance solutions for our clients, where they are doing business."
"O’Malley-Griffin is well respected in the industry as well as across the local business community. I am delighted that they will join us and our expanding base in Limerick on our journey going forward. I would like to thank Eamon and his team who share our vision and culture and we look forward to the completion of this exciting deal.”
