Originally founded in Cork, Arachas is investing in the city again, to support its growing customer base and to serve business in Cork and the wider region.
Arachas, the largest nationwide Insurance broker, today announced that it has entered into an agreement to acquire Apex Insurance, the well-known insurance broker, based on the South Mall in Cork for an undisclosed sum.
Apex Insurance is one of the leading insurance brokers in Cork and has deep relationships with businesses in Cork and the wider region, where it provides cost effective insurance products across all industries. The business is led by founder and Managing Director, Theo Hoare and Director, Marie O’Keeffe, who are supported by employees based in the region.
Commenting on the acquisition, Alan Miller, Regional Director for Arachas’ South Region said, “We are delighted to have been able to attract Apex Insurance, to join the wider Arachas family. This will significantly strengthen our team and increase our scale and presence in Cork and its hinterland. The timing is good, as there is increased economic activity in Cork, and we are there to help businesses with their insurance needs. Over the last number of years, Arachas has actively sought to bring businesses into the family that would benefit from being part of a bigger organisation. This presents immense opportunities to both employees and our customers. Apex Insurance is a great fit for us.”
Theo Hoare, Managing Director and Founder of Apex Insurance, added, “Over the years we have successfully built up a solid Insurance brokering business in Cork. We’ve achieved this through the hard work of our employees and the commitment and support from our loyal customers, who rely on us to navigate them through their insurance needs. We are excited by this new chapter and the opportunities that it gives to our employees, by being part of a nationwide group of over 500 colleagues, who share our culture and values. Our customers will also benefit, by being able to avail of an even wider range of sustainable insurance solutions, while having the security that they will continue to deal with the same Cork based team that have served them well over the years”, he concluded.