With the acquisition, Arachas expects to expand its offering to the residents of Tipperary and East Limerick in the Republic of Ireland. Credit: PopTika/ shutterstock.com.

Irish insurance broker Arachas has acquired the general insurance business of domestic peer Tom Fogarty Insurance Brokers, further cementing its presence in Tipperary.

Financial details of the deal were not revealed.

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Arachas expects the acquisition to enhance its offerings, particularly in motor and home insurance, to the residents of Tipperary and East Limerick in the Republic of Ireland.

Arachas mid-west regional director Daniel Hennessy said: “Tom Fogarty Insurance Brokers is an excellent fit for Arachas in the Mid-West as the existing customer base is very similar to our current offices in the area and in line with our strategic plans to bolster our presence in the Mid-West region.

“Following the acquisition of this well-run, long-standing brokerage, we believe both existing staff and customers will integrate seamlessly into our business.”

Tom Fogarty Insurance Brokers, with over six decades of service, is an independent brokerage based in Tipperary Town. It offers insurance solutions for personal and medium-sized business clients.

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The latest move follows Arachas’ previous investment in Tipperary with the acquisition of O’Donoghue Hooper Dolan in 2020.

Speaking on behalf of Tom Fogarty Insurance Brokers, Michael Fogarty noted: “We have had over 60 years in business, servicing the people of Tipperary Town and wider area and I would like to thank both our staff and customers.

“Our staff will transfer directly to Arachas and it will be very much business as usual, whereby our customers can continue to deal directly with the same staff and they will now have access to a much wider range of insurance products as well.”

Part of the independent insurance distribution platform Ardonagh Group, Arachas provides consultancy on the entire range of insurance products and services for commercial and domestic customers.