Marine insurance specialist Craftinsure Ireland acquired by Arachas
Arachas, Ireland’s largest nationwide insurance broker, has acquired marine insurance specialist Craftinsure Ireland Limited in a move that will further strengthen its insurance offering in the marine sector.
This is the fourth acquisition announced by Arachas in 2025, following other deals announced in Galway, Cavan and Cork.
Craftinsure Ireland Limited (CII), established in Ireland in 2008, is a marine insurance specialist and market leader in the pleasure craft sector. It is currently the country’s only pure Quote and Buy marine insurer in the country and was the first insurer to provide a complete boat insurance service online. It is a privately-owned Underwriting Agency providing an online insurance facility on behalf of Tokio Marine Europe SA.
Recognising the complexity of the marine industry in Ireland CII has a suite of products especially adapted for the Irish market with 14 different risk categories covering powered craft and sailing boats along with canoes, rowing boats and other craft. The advanced quote system can provide instant quotes for any craft split between the 14 risk segments in as little as 3-7 clicks.
The business is led by CEO Paul Ivory and he and his staff will transfer over to Arachas upon completion of the deal. Ivory said:
“Having established the business in 2008 to cater for the Irish pleasure craft market, we developed the business to a position where we are a leader and innovator in the market.
“I would like to thank all our customers who have supported us over the years and can reassure them that it will be very much business as usual and will be even better with the expertise of Arachas, a local and global business behind us, and we are looking forward to the challenge.”
Arachas is Ireland’s largest nationwide insurance broker, employing over 700 professionals across 14 offices. It provides a comprehensive range of insurance products and services for both commercial and personal clients. Arachas is part of the Ardonagh Group, one of the world’s largest independent insurance distribution platforms and a top 20 global broker with a combined workforce of 12,000 colleagues and a network spanning 250+ locations in more than 30 countries.
Joey Wynne, CEO of Arachas, commented:
“We admire the specialisation and expertise of Craftinsure Ireland Limited team and are pleased that they have agreed to join the Arachas family and further strengthen our position in the marine insurance market. We look forward to welcoming the team into our business and developing further in this important sector.”