Arch completes UK acquisition

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The UK made up of British pounds.
Insurance

Arch Insurance Europe has completed the acquisition of the UK commercial lines business owned by The Ardonagh Group, part of its Geo Underwriting operating segment.

The acquired business, which generated more than £150 million in gross written premiums in 2017, will become the newly formed Arch UK Regional Division, focused on commercial property, casualty, motor, professional liability, personal accident and travel.

According to Arch, the acquisition forms part of the company’s strategy to ‘grow its regional UK presence and deliver underwriting expertise and a strong customer value proposition through an expanded retail distribution network’. Matt Shulman, President and CEO, Arch Insurance Europe, commented: “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.”