Arachas, Ireland’s largest general insurance brokerage, has acquired Craftinsure Ireland, a niche player in the marine insurance sector. The move is another step in the firm’s ambition to build a comprehensive national footprint through selective and targeted acquisitions, with Craftinsure becoming the fourth addition to its growing portfolio in 2025 alone.
Craftinsure Ireland, established in 2008 by industry veteran Rod Daniel, carved out a unique position in the Irish market by offering online insurance exclusively for pleasure craft. The company is notable for its “quote and buy” platform - a first in Irish marine insurance - and underwrites a wide range of leisure vessels including sailing boats, powerboats, and canoes across 14 risk categories.
The company will now become part of the Arachas group, itself owned by Ardonagh, the London-based insurance behemoth backed by private equity. Ardonagh, one of the world’s top 20 insurance brokers, has been pursuing an aggressive global expansion strategy and is reportedly close to securing a further US$2.5 billion in funding to support its acquisition-led growth.
Arachas chief executive Joey Wynne described the move as a natural step in strengthening the firm’s presence in the specialist marine segment. “Craftinsure Ireland brings not just expertise but a strong digital capability that aligns well with our ambition to deliver specialist cover with ease and speed,” he said.
The acquisition follows a series of similar deals by Arachas over the past year, including the recent purchase of Insight Insurance Brokers in Cork - a move that deepened its roots in the region where the business originated. Since being bought by Ardonagh for €250 million in 2020, Arachas has added dozens of brokers to its stable, targeting firms with either regional significance or technical specialisation.
Craftinsure Ireland chief executive Paul Ivory, a former Zurich Insurance Group executive, said the partnership would preserve continuity for existing clients while opening up new possibilities under the Arachas banner. “We’ve built a leadership position in a specialised market, and now look forward to evolving further as part of a larger, well-resourced group,” he said.
The acquisition also reflects broader trends within the Irish insurance market, where consolidation has accelerated in response to mounting regulatory complexity and technology demands. With private equity investors drawn to the reliable fee income generated by brokers, valuations have remained strong, making it an opportune moment for many owners to sell.
For Arachas, which now commands an estimated 13% share of the general insurance market in Ireland, the addition of Craftinsure provides a clear pathway into a sector that, while niche, requires deep expertise. It is expected that Craftinsure’s team will continue to operate under its existing brand for the time being, with integration taking place over the months ahead.
As Arachas moves forward with its consolidation strategy, the firm’s increasingly data-driven approach - coupled with access to Ardonagh’s international capital and underwriting networks - continues to give it considerable leverage in pricing and capacity negotiations. Further acquisitions in 2025 are widely anticipated.
