Limerick-based insurance broker acquired by Arachas
A LIMERICK-based insurance broker is to be acquired by Arachas, Ireland’s largest nationwide intermediary.
Arachas, which operates out of 16 locations in Ireland including at Howley’s Quay in Limerick city, has announced its intention to buy O’Malley-Griffin which has offices at nearby Lower Mallow Street.
Seven staff work at O’Malley-Griffin which provides insurance solutions to both the consumer and commercial sectors.
Commenting on the deal, Eamon O’Malley, its managing director, said “This is a milestone day for O’Malley-Griffin, for our staff and for our loyal customers. Our success over the last 74 years has been built through the dedication, hard work and professionalism of our highly experienced 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.”
Conor Brennan, CEO, Arachas and Ardonagh Europe added: “We want to be Ireland’s best broker, according to our clients and our employees. 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 in Limerick.
"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,” added Mr Brennan.
The terms of the acquisition have not been disclosed publicly.