Arachas, one of the leading insurance brokers in Ireland, has successfully obtained Gerry O’Mahony Insurances, a Limerick-based firm. The precise value of the deal remains undisclosed. This marks the third purchase for Arachas in this year alone.
Gerry O’Mahony Insurances is a veteran firm, established in Castletroy 35 years ago by its namesake, Gerry O’Mahony. His sons, former Munster Rugby players Ronan and Barry, manage the firm. In the wake of the acquisition, the firm will continue as a part of the Arachas brand. Ronan o’Mahony will remain in a business development role.
According to Arachas, this deal aligns with their plan to fortify their presence in the midwest, especially in Limerick. Arachas CEO, Joey Wynne, said that these latest developments excited him, as they continue to strengthen their foothold in the southwest, and expand throughout the nation.
Wynne furthered this by stating that this was their third investment in Limerick since 2020, it demonstrated their dedication to delivering optimum service to their clients in the region.
Gerry O’Mahony welcomed the move to join the Arachas group, confident that the high service standards would be maintained, and the new arrangement would spur exciting opportunities for their team and their esteemed clientele.
Daniel Hennessy, Arachas’ regional director for the Midwest, also praised Gerry O’Mahony Insurances as a high-quality brokerage with excellent services. He further stressed the importance of the Limerick location for their ambitious expansion plan and the eagerness to collaborate with Ronan and the team.
Since the Ardonagh Group’s acquisition of Arachas for €250 million in 2020, Arachas has been among the most active participants in the increasingly consolidating insurance brokerage market of the Republic.
The latest acquisition is the third for Arachas this year, after purchasing Tom Fogarty Insurance of Tipperary Town and Gilmartin Insurances in Leitrim. Arachas has now expanded its portfolio to 15 brokerages since 2020.