We are delighted to announce that Murray & Spelman has joined Arachas Corporate Brokers. Arachas is one of Ireland’s largest and most successful independent brokerage firms. The deal was signed on Friday and is subject to the Central Bank of Ireland’s acceptance of change in Regulatory Authorisations.
With the addition of Murray & Spelman, Arachas will grow its workforce to more than 250 insurance professionals with offices in Dublin, Cork, Waterford and now Galway and Kildare.
Arachas CEO Conor Brennan described Murray and Spelman as “a perfect fit” for Arachas and said he was delighted with the deal.
“Murray and Spelman is one of Ireland’s most successful brokers and we have always had huge professional respect for them. They are a perfect fit for us – they share our ambitions and values, and have a similar culture of high professional standards, entrepreneurship, and respect for their people and their customers. Their Galway base will give Arachas significant coverage on the west coast, and their new state-of-the-art offices in Kildare will be a great asset as a shop front for Arachas in the area.”
Murray and Spelman Managing Director Michael Culhane said;
‘’The deal marked a very significant point in the company’s 63-year history that would bring great benefit for the business and its clients’. I am very pleased that our brokerage management team and our staff will remain in place, and I’d like to take this opportunity to reassure our clients that service levels and contacts with us will remain unaltered. As the businesses integrate, there will be great mutual benefit for both Murray and Spelman and Arachas as they begin to share and learn from each other’s expertise and experience.”
Murray & Spelman’s Commercial Director Joey Wynne will join the Arachas board and will be responsible for the day-to-day running of the Murray & Spelman business.
Commenting on the announcement, Joey said:
“It is testament to the hard work of all our people that we have achieved a level of success that made us attractive to Arachas, and we’re really proud of that.”
Murray and Spelman’s financial services arm of the business is not included in the transaction. That will remain an independent business under the leadership of Michael Culhane, who will be leaving the broking business. Michael will continue to work closely with Conor, Joey and the teams throughout the transition period to support and advise and ensure a seamless handover. We also expect Murray & Spelman (Financial Services) and Aracahs will continue to have a very close working relationship in to the future.
Murray & Spelman will be integrating our offices and 36 people with Arachas, taking our time to learn from each other, share expertise, and make sure that we make the most of the valuable skills brought by employees from both companies. The development will open new doors for people as we all start to work together and identify the opportunities brought by the integration. The Murray and Spelman brand will move to Arachas as soon as logistically possible. There will be no reduction in roles, or changes to working terms and conditions, as a result of the announcement.
Murray & Spelman wish to take this opportunity to thank all of its customers for their continued and loyal support. We sincerely believe that everyone will experience many benefits from the course of action we have now taken.