The acquisition marks the largest one undertaken by the group, and will be supported by 120 professionals who will join the team to further enhance its collective skill set.
Despite a competitive Irish M&A market, Arachas claimed that there are still accretive deals to be found.
The group stated it will be concentrating on integration and growth plans and working with its soon-to-be new colleagues.
Conor Brennan, CEO, Arachas, said: “Above all we believe in working in collaboration to meet the changing needs of Irish insurance consumers; giving employees a secure and exciting career path; and giving back to the wider community that we all belong to.
“Hooper Dolan is an organisation of honourable and dedicated people like ourselves who will always go that extra mile for their customers and who mind and respect their staff. Once we knew that, we knew we had the foundations to build something exceptional together.”