At this point, Árachas is less like a normal company and more of a platform. It is the corporate entity into which lots of mid-sized Irish insurance brokerages have been absorbed — 12 of them since 2017. Árachas was formed in 2004 from the amalgamation of two insurance brokerages. It was acquired in 2017 by Sovereign Capital, a private equity firm, and sold to Ardonagh, another private equity firm, in 2020.  Private equity firms are interested in Árachas because of two features of the insurance brokerage industry. One is that the market is fragmented — the market is served by…

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