Arachas announces intention to acquire Glennon Insurances in landmark deal

Arachas Corporate Brokers Limited (“Arachas”), a subsidiary of The Ardonagh Group (“Ardonagh”, “The Group”) has announced that it has reached an agreement to acquire Frank Glennon Ltd, Frank Glennon (Life & Pensions) Ltd and Administration and Management Services Ltd, leading providers of expert insurance solutions in Ireland and one of the highest quality, independently operated brokerages in this country.

Glennon Insurances is a trusted name in Ireland for insurance, having spent 75 years building strong long tenure client relationships from a diverse range of industries including construction, medical, retail, professional services, real estate and professional affinity group relationships. They operate in Corporate, SME, Employee Benefits, Financial Planning and Affinity home and motor businesses, with over €80 million in Gross Written Premium (GWP) and over 100 employees, with offices in Dublin.

Ardonagh Europe and Arachas, CEO Conor Brennan said: “The similarities between Arachas and Glennon Insurances, in terms of our business and our people-first culture, put us out in front, in a highly contested race, to acquire Glennon. Their broking capacity and ability to manage risk over a long period of time is impressive. This, together with their experience in general insurance, life, pensions and business insurance is all highly complementary, to the rapidly-growing Arachas business. I’m delighted to be adding Glennon to a reputable list of Irish family businesses, who are now thriving under the Arachas brand”.

Ardonagh Group CEO, David Ross added: “This is a landmark deal for Arachas and a proud moment for the wider Ardonagh Group to be enabling another meeting of hearts, minds and culture between two leading brokers in Ireland. Glennon’s expertise for complex risks and large enterprises, combined with Arachas’ access to capacity and the scale of Ardonagh, is set to be a formidable combination and we look forward to collaborating on all the opportunities that lie ahead.”

David Glennon, Chairman, Glennon Insurances commented: “Today is a milestone moment in the 75 years, since my grandfather founded the company. I am confident that our dedicated employees, loyal clients and partners are in excellent hands, as part of the Arachas family. I know that Arachas has a strong vision to grow the business that will help us to continue to deliver what we have always offered our clients, namely a high quality service delivered by an expert and dedicated team.”

John Bissett, CEO, Glennon Insurances added: “With many potential buyers approaching us, Arachas stood out as a partner who shares our family business values and our approach to listening to our clients so that we can find the best way to protect what matters most to them. Our combined businesses will deliver a peerless breadth and depth of expertise with vision and scale that will further enhance the solutions we can provide across the market to our loyal client base.”

Subject to regulatory approval, the Glennon business will be integrated into Arachas following completion of the transaction, growing the Arachas headcount in Ireland to over 600.

Media contacts

Arachas: Conor Brophy, Teneo conor.brophy@teneo.com +353 86 6039476

About ARACHAS

Arachas is Ireland’s largest, fastest-growing, nationwide insurance brokerage. We specialise in protecting Irish entrepreneurial spirit - the backbone of the Irish economy. We do this by combining our knowledge of the insurance issues facing Irish people, in business and in their day-to-day life, with our access to solid and reliable insurance providers. Originally established in 1969, Arachas has grown to be a nationwide broker with over 500 employees at offices around the country. Arachas was acquired by Ardonagh – the international Insurance group with over 100 offices and 9,000 employees in 2020 and today operates as part of its Europe platform.
www.arachas.ie

About The Ardonagh Group

The Ardonagh Group is one of the world’s leading independent insurance distribution platforms. We are a collection of best-in-class entrepreneurial and specialist brands with a network of more than 150 locations and a combined workforce of more than 9,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.

Ardonagh Europe is part of Ardonagh’s International platform which is a platform for growth in the region and rest of the world. It includes Arachas, the Republic of Ireland’s largest commercial nationwide insurance broker delivering exclusive insurance solutions through a multi-channel distribution strategy, Resilium, Australia’s largest independently owned intermediary network, AccuRisk Solutions, a US-based MGA focused on medical stop loss products, HWF Partners, a fast-growing specialist M&A insurance broker operating out of the UK and Germany and Léons Group (“Léons”), an independent family-owned insurance brokerage and consultancy firm in the Netherlands (subject to regulatory approval).
www.ardonagh.com

About GLENNON

For 75 years, three generations of the Glennon family have been leaders in Irish Insurance. Glennon lead from the front, with a people-first ethos in all aspects of its business — providing trusted expert advice and creating a wide range of competitive insurance and risk management solutions, from personal to business and corporate groups. Glennon with over 100 staff is regarded as an industry leader in providing cutting edge, professional and innovate insurance solutions.
www.glennons.ie