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The Irish-led insurance broker group Arachas, a subsidiary of Ardonagh, has been making waves in the industry. A recent deal with US private equity firm Stone Point Capital has valued Ardonagh at a staggering $14 billion (€13.4 billion), nearly double its valuation just three years ago. This notable investment signifies a new chapter for Ardonagh and its subsidiaries, including Arachas.
David Ross, an Irishman and the leader of Ardonagh, remarked, “Stone Point’s investment in the Group marks a new phase in our extraordinary journey over the past few years to become the $14 billion business we are today. Their support reflects a strong conviction in the strength of Ardonagh’s business and continued momentum, and redoubles our commitment to independence in a consolidating market.”
This year has been pivotal for Ardonagh, marked by a refinancing in March, the merger of its personal lines business with broker markerstudy, and the acquisition of PSC Insurance Group in Australia. Arachas, under the leadership of CEO Joey Wynne, has been a key player in this expansion, actively consolidating its presence within the Irish insurance brokerage landscape. Acquisitions this year include Gerry O’Mahony Insurances in Limerick, Tom Fogarty Insurance Brokers in Tipperary, Gilmartin Insurances in Leitrim, and Waterford-based broker McDonald Dwyer Reddy & Byrne.
Arachas was itself acquired by Ardonagh in 2020 for €250 million. The company has consistently reported strong financial performance, with a 30% increase in net profit last year, reaching €40.3 million. Turnover, primarily from commissions and fees, surged to €113.4 million from €89 million.
With the backing of Ardonagh and its substantial investment from Stone Point Capital, both Arachas and Ardonagh are poised for continued growth and expansion in the insurance sector.
Arachas, the Irish insurance broker group, has been making headlines through its ambitious growth strategy and strong financial performance. At the helm of this expansion is CEO Joey Wynne. We sat down with wynne to discuss the company’s recent achievements, its relationship with parent company Ardonagh, and its vision for the future.
We’ve always been committed to providing comprehensive insurance solutions across Ireland. These acquisitions allow us to strengthen our footprint in key areas, expand our expertise, and ultimately serve more clients with the same high level of personalized service Arachas is known for.
Ardonagh’s success is directly linked to the success of its subsidiaries, including Arachas.This valuation reaffirms the strength of the Ardonagh group and provides Arachas with the financial backing and resources to pursue even more ambitious growth opportunities.
Our focus remains on delivering extraordinary service to our clients while continuing to expand strategically. We’re also committed to investing in technology and innovation to ensure we’re at the forefront of the changing insurance landscape.
That’s a great question. I believe that clients value choice and personalized service,and strong independent brokers like Arachas are well-positioned to meet those needs.
What are your thoughts on the future of independent brokers within the insurance landscape?
## From Limerick to the World Stage: An interview with Joey Wynne of Arachas
**Archyde:** Arachas has made several strategic acquisitions this year. Can you tell us more about this expansion and what it signifies for the company?
**Joey Wynne:** Absolutely. This year has been a period of notable growth for arachas, reflecting our commitment to building a truly nationwide presence within the Irish insurance brokerage market. Our acquisitions, including Gerry O’Mahony Insurances, Tom Fogarty Insurance Brokers, Gilmartin Insurances, and McDonald Dwyer Reddy & Byrne, have strengthened our footprint across key regions such as Limerick, Tipperary, Leitrim, and Waterford. each acquisition brings unique strengths and expertise to the Arachas family, allowing us to offer even more extensive solutions to our clients.
**Archyde:** Ardonagh’s recent valuation at $14 billion marks a significant milestone. How does this impact Arachas’s growth trajectory?
**Joey Wynne:** The success of Ardonagh, and its recent valuation, is a source of immense pride for us at Arachas. Being part of such a dynamic and ambitious group provides us with unparalleled access to resources, expertise, and a shared vision for the future. This strong backing fuels our own growth aspirations, allowing us to pursue new opportunities and invest strategically in our people, technology, and service offerings.
**Archyde:** Looking ahead, what are Arachas’s key priorities for the next few years?
**Joey Wynne:** Our primary focus remains on delivering exceptional service and customized insurance solutions to our clients. We will continue to invest in building a team of highly skilled professionals, fostering a culture of innovation and collaboration, and exploring new ways to leverage technology to enhance the customer experiance. We are also committed to strengthening our partnerships with key insurers and stakeholders in the irish market.
**Archyde:** Ardonagh has been vocal about its commitment to independence in a consolidating market. Do you think this approach will become increasingly crucial in the insurance industry moving forward?
**Joey Wynne:** Indeed, I beleive that maintaining independence is vital for Arachas and for firms like us who prioritize client needs and a personalized approach. In an increasingly consolidated market, our independence allows us to remain agile, innovative, and true to our core values. This independence enables us to choose the best solutions for our clients, regardless of external pressures.We believe this client-centric approach will continue to be a key differentiator for Arachas and for autonomous brokers in the future.
Ardonagh and Arachas: A Tale of Growth and Expansion
Table of Contents
- 1. Ardonagh and Arachas: A Tale of Growth and Expansion
- 2. From Limerick to the World Stage: An Interview with Joey Wynne of Arachas
- 3. Arachas has made several strategic acquisitions this year. Can you tell us more about this expansion and what it signifies for the company?
- 4. Ardonagh’s recent valuation at $14 billion marks a significant milestone. How does this impact Arachas’s growth trajectory?
- 5. Looking ahead,what are arachas’s key priorities for the next few years?
- 6. Ardonagh has been vocal about its commitment to independence in a consolidating market. Do you think this approach will become increasingly crucial in the insurance industry moving forward?
Table of Contents
- 1. Ardonagh and Arachas: A Tale of Growth and Expansion
- 2. From Limerick to the World Stage: An Interview with Joey Wynne of Arachas
- 3. Arachas has made several strategic acquisitions this year. Can you tell us more about this expansion and what it signifies for the company?
- 4. Ardonagh’s recent valuation at $14 billion marks a significant milestone. How does this impact Arachas’s growth trajectory?
- 5. Looking ahead,what are arachas’s key priorities for the next few years?
- 6. Ardonagh has been vocal about its commitment to independence in a consolidating market. Do you think this approach will become increasingly crucial in the insurance industry moving forward?
From Limerick to the World Stage: An Interview with Joey Wynne of Arachas
Arachas, the Irish insurance broker group, has been making headlines through its ambitious growth strategy and strong financial performance. At the helm of this expansion is CEO Joey Wynne. We sat down with wynne to discuss the company’s recent achievements, its relationship with parent company Ardonagh, and its vision for the future.
Arachas has made several strategic acquisitions this year. Can you tell us more about this expansion and what it signifies for the company?
We’ve always been committed to providing comprehensive insurance solutions across Ireland. These acquisitions allow us to strengthen our footprint in key areas, expand our expertise, and ultimately serve more clients with the same high level of personalized service Arachas is known for.
Ardonagh’s recent valuation at $14 billion marks a significant milestone. How does this impact Arachas’s growth trajectory?
Ardonagh’s success is directly linked to the success of its subsidiaries, including Arachas.This valuation reaffirms the strength of the Ardonagh group and provides Arachas with the financial backing and resources to pursue even more ambitious growth opportunities.
Looking ahead,what are arachas’s key priorities for the next few years?
Our focus remains on delivering extraordinary service to our clients while continuing to expand strategically. We’re also committed to investing in technology and innovation to ensure we’re at the forefront of the changing insurance landscape.
Ardonagh has been vocal about its commitment to independence in a consolidating market. Do you think this approach will become increasingly crucial in the insurance industry moving forward?
That’s a great question. I believe that clients value choice and personalized service,and strong independent brokers like Arachas are well-positioned to meet those needs.
What are your thoughts on the future of independent brokers within the insurance landscape?
## From Limerick to the World Stage: An interview with Joey Wynne of Arachas
**Archyde:** Arachas has made several strategic acquisitions this year. Can you tell us more about this expansion and what it signifies for the company?
**Joey Wynne:** Absolutely. This year has been a period of notable growth for arachas, reflecting our commitment to building a truly nationwide presence within the Irish insurance brokerage market. Our acquisitions, including Gerry O’Mahony Insurances, Tom Fogarty Insurance Brokers, Gilmartin Insurances, and McDonald Dwyer Reddy & Byrne, have strengthened our footprint across key regions such as Limerick, Tipperary, Leitrim, and Waterford. each acquisition brings unique strengths and expertise to the Arachas family, allowing us to offer even more extensive solutions to our clients.
**Archyde:** Ardonagh’s recent valuation at $14 billion marks a significant milestone. How does this impact Arachas’s growth trajectory?
**Joey Wynne:** The success of Ardonagh, and its recent valuation, is a source of immense pride for us at Arachas. Being part of such a dynamic and ambitious group provides us with unparalleled access to resources, expertise, and a shared vision for the future. This strong backing fuels our own growth aspirations, allowing us to pursue new opportunities and invest strategically in our people, technology, and service offerings.
**Archyde:** Looking ahead, what are Arachas’s key priorities for the next few years?
**Joey Wynne:** Our primary focus remains on delivering exceptional service and customized insurance solutions to our clients. We will continue to invest in building a team of highly skilled professionals, fostering a culture of innovation and collaboration, and exploring new ways to leverage technology to enhance the customer experiance. We are also committed to strengthening our partnerships with key insurers and stakeholders in the irish market.
**Archyde:** Ardonagh has been vocal about its commitment to independence in a consolidating market. Do you think this approach will become increasingly crucial in the insurance industry moving forward?
**Joey Wynne:** Indeed, I beleive that maintaining independence is vital for Arachas and for firms like us who prioritize client needs and a personalized approach. In an increasingly consolidated market, our independence allows us to remain agile, innovative, and true to our core values. This independence enables us to choose the best solutions for our clients, regardless of external pressures.We believe this client-centric approach will continue to be a key differentiator for Arachas and for autonomous brokers in the future.
