A Message from Capital Insurance Markets - Acquisition of Catalpa Underwriting Ltd

A Message from Capital Insurance Markets

Capital Insurance Markets today announces the acquisition of Catalpa Underwriting Ltd, a leading wholesale broker, specialising in Liability and Commercial Motor business. The deal will broaden Capital Insurance Markets product offering and will lead to enhanced customer offerings distributed through the combined Broker Networks.

Capital Insurance Markets, based in Blanchardstown, Dublin, now with over 50 employees, is a market leader that provides specialised commercial insurance products to SME sectors in Ireland. With both wholesale scheme distribution and underwriting capability, the Capital team is uniquely placed to manage capacity for insurers, while continuing to deliver quality insurance product offerings to our Broker partners.

Catalpa Underwriting Ltd was established in Galway in 2013 and specialises in Liability and Commercial Motor business, providing products to independent brokers throughout the Republic of Ireland. The business and employees will transfer to Capital Markets but will retain its Galway base.

Commenting on the acquisition, Celine Greene, Chief Trading Officer, Arachas Specialty, said,

"The acquisition of Catalpa Underwriting is an important step for Capital Insurance Markets, and we very much see the business and its service offerings as complementary. Combining both businesses will allow the enlarged group to offer more products to our existing Broker Partners and will support further growth.

Our technical and market expertise will enable us to accelerate the development of new products and schemes, while strengthening our long-term relationships through an even broader product offering for our broker partners. In particular, it will allow us to offer an enhanced fleet proposition to the Irish broker market and continue to build out our fleet offering, which has already grown significantly in the last three years. Finally, I would like to welcome the Catalpa Underwriting employees and clients to the Capital Markets family and look forward to the next stage of our joint development.

As I embark on our Capital roadshow around the country for the next few weeks, I’ll be engaging with our broker network about this acquisition together with some exciting news on our product updates and enhancements including some changes to our distribution model.”

Paul McGrady, Director, Catalpa Underwriting Ltd, added,

“Over the past thirteen years, we have been very proud to grow our business based on service and product excellence for the independent broker market. We have developed core specialist expertise that is highly complementary to Capital Insurance Markets, and it was therefore a natural progression for us to join Capital Insurance Markets as we continue to grow.

This move will allow our Brokers access to a broader range of products and greater choice. I would like to thank our Brokers from all corners of Ireland, for their continued support over the years and reassure them that it will be business as usual. We look forward to offering them even greater choice and quality of products going forward.”

For all enquiries, please contact our team on (01) 406 0300 or email quotes@capitalim.ie

Arachas Corporate Brokers Limited trading as Arachas, Capital Insurance Markets, Capital IM, Covercentre, ProEx Underwriting, Craftinsure Ireland, Broker Options is regulated by the Central Bank of Ireland. Registered in Ireland No. 379157.