Arachas Expands Marine Insurance Capabilities through Strategic Acquisition
Arachas, Ireland’s largest general insurance brokerage, has acquired Craftinsure Ireland, a specialist marine insurance broker. This move is part of Arachas’ ongoing strategy to build a comprehensive national footprint through targeted acquisitions. Craftinsure Ireland, established in 2008 by industry veteran Rod Daniel, has carved out a niche in the Irish marine insurance market with its “quote and buy” online platform.
The acquisition marks Arachas’ fourth addition in 2025, continuing its aggressive expansion strategy. Craftinsure Ireland will now become part of the Arachas group, which is owned by London-based insurance giant Ardonagh. Ardonagh, backed by private equity, has been pursuing a global expansion strategy and is reportedly nearing a further US$2.5 billion in funding to support its acquisition-driven growth.
Arachas CEO Joey Wynne stated that the acquisition strengthens the firm’s presence in the specialist marine segment, bringing both expertise and digital capability. Craftinsure Ireland CEO Paul Ivory, a former Zurich Insurance Group executive, noted that the partnership will maintain continuity for existing clients while opening new possibilities under the Arachas banner.
This acquisition reflects broader trends in the Irish insurance market, where consolidation has accelerated due to increasing regulatory complexity and technology demands. With private equity investors attracted to brokers’ reliable fee income, valuations remain strong, making it an opportune time for owners to sell.
For Arachas, now commanding an estimated 13% share of Ireland’s general insurance market, the addition of Craftinsure provides a clear pathway into the niche marine insurance sector, which requires deep expertise. The Craftinsure team is expected to continue operating under its existing brand initially, with integration planned over the coming months.
As Arachas continues its consolidation strategy, its increasingly data-driven approach, coupled with access to Ardonagh’s international capital and underwriting networks, gives it significant leverage in pricing and capacity negotiations. Further acquisitions in 2025 are anticipated.
