Arachas makes another insurance acquisition

D&D Insurances is focused on the marine sector and has long-established relationships with key fishing ports and marine vessels since it was founded in 1986. Picture: iStock

Insurance firm Arachas continues its rapidly growing list of acquisitions in the past two years with confirmation the company has acquired D&D Insurances Ltd.

Based in Dublin, D&D Insurances is focused on the marine sector and has long-established relationships with key fishing ports and marine vessels since it was founded in 1986. Financial details of the deal have not been disclosed. It brings the number of acquisitions by Arachas to 11 since it was acquired by Ardonagh in 2020.

Conor Brennan, CEO of Ardonagh Europe and Arachas, said the acquisition of D&D extends their expertise and experience in the marine sector. 

"Our strategy has always been to look to acquire well-managed companies specialising in specific market sectors," he said. 

D&D Insurances will be a great addition to the Arachas family. It will deepen our existing credentials in the marine sector and expand insurance options for our customer base and also for D&D Insurances’ existing customers."

D&D CEO Barry Donnellan said they have provided a nationwide service to the Irish fishing community since the 1980s.

"For the next stage of our development, we are pleased to be joining Arachas and look forward to the additional opportunities that this will provide our existing clients and staff," he said. "All of our clients will continue to be serviced by the same team.”

Last month, Arachas also announced the acquisition of Limerick insurance broker O’Malley-Griffin.

The past five years have been marked by a series of insurance acquisition deals, with over 50 transactions taking place.

Arachas has been one of the busiest. It was set up 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, including an office in Limerick.