Strength of management and business track record is a good fit for expanding Arachas.
Arachas, the largest nationwide Insurance Broker, today announced that it has entered into an agreement to acquire Stuart Insurances, the insurance broker headquartered in Dublin and with offices in Kilkenny and Wexford, for an undisclosed sum.
Today’s announcement fits with Arachas’ strategy of acquiring well managed businesses with strong expertise and reputations that could benefit by becoming part of the larger Arachas business. This strategy has seen Arachas grow to having over 500 employees based at locations throughout the country.
Commenting on the acquisition, Conor Brennan, CEO, Arachas said, “We were attracted to Stuart Insurances by the quality of their management and extended team and the strong track record of success and their heritage over the last 5 decades. This acquisition is about growth for both sides and will present great development opportunities for Stuart Insurances employees as they become part of the Arachas family and for their customers, as they benefit from a greater range of quality insurance products”.
Speaking on behalf of Stuart Insurances, Ian Stuart, Managing Director said, “Over the last number of years, we have been pursued by a number of interested parties but felt that the cultural fit and timing was not right. Once we started talking to Arachas, we quickly understood the opportunities there would be for our team of over 30 professionals and the advantages that being part of the Arachas group would have for our long-standing and loyal customers. I would like to thank all of our team and our customers for the support they have shown us over the years and looking forward to the next stage of Stuart Insurances’ growth with the support of Arachas”.
- About Arachas
Arachas is Ireland’s largest, fastest-growing, nationwide insurance brokerage. We specialise in protecting Irish entrepreneurial spirit - the backbone of the Irish economy. We do this by combining our knowledge of the insurance issues facing Irish people, in business and in their day-to-day life, with our access to solid and reliable insurance providers. Originally established in 1969, Arachas has grown to be a nationwide broker with 500 employees at offices around the country. Arachas was acquired by Ardonagh – the international Insurance group over 100 offices and 9,000 employees in 2020.
- About Stuart Insurances
Since its foundation in Dublin in 1978, Stuart Insurances has grown to be one of the most respected family-owned insurance brokerages in Ireland. We are the leading provider of Campervan and Motorhome Insurance, and our policy is underwritten by our insurance partner, Aviva. Our team of over 30 professionals offer insurance on a wide range of products including home, commercial and retail insurance along with the campervan offering. Our head office is in Blackrock, Dublin and we also have sister offices in Kilkenny and Wexford.
Stuart Insurances Ltd is regulated by the Central Bank of Ireland.
For further information
Brendan Murphy/ Conor Brophy
Contact +35387 2051111/ +353 86 6039476