Arch completes Ardonagh deal
Arch Insurance Europe has finalised its acquisition of the UK commercial lines business owned by The Ardonagh Group and part of its Geo Underwriting operating segment.
The acquired business generated more than £150 million of gross written premium in 2017, and will become Arch UK Regional Division, a unit focused on commercial property, casualty, motor, professional liability, personal accident and travel.
"We are pleased to have completed the acquisition of Geo’s commercial lines business and are excited as we welcome another team of high-quality underwriting and distribution professionals to Arch," said Matt Shulman, president and CEO of Arch Insurance Europe.
“It is our ambition for the Arch UK Regional Division to become a leading underwriting partner for brokers and their Small and Medium Enterprise (SME) clients across the UK. This is an important part of our broader strategy to establish a strong regional presence for Arch in the UK, allowing us to combine our underwriting expertise with the distribution needed to offer our specialist insurance solutions to a broader range of SME clients.”
Around 250 employees will move to Arch following this deal.
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