Arachas, the acquisitive Dublin-based insurance broker focused on small businesses, plans to double the amount of its coverage it writes over the next five years, after its imminent takeover for about €250 million bsy a UK brokerage group. It was confirmed on Monday that they were rolling Arachas into a UK insurance brokerage group that they control, called Ardonagh. Insurance executive Conor Brennan left Zurich Insurance in early 2018 to take over as chief executive of Arachas. Some of the proceeds are being used to buy Arachas as well as UK brokers Bravo and Bennett’s Motorcycling Services. UK-based insurance broker Aon announced in March that it plans to buy Willis Towers Watson in an all-stock transaction worth about $30 billion.

Source: The Irish Times June 24, 2020 04:30 UTC