Arch Insurance (UK) Limited (Arch) continues to extend its division through acquisitions. Having acquired Axiom Underwriting on 1 April, Arch has now also completed the acquisition of specialist underwriting agency Obelisk Underwriting, creating an additional two UK regional offices, as well as adding another specialist underwriting team to the expanding division.
Obelisk Underwriting generated roughly £5 million of gross written premium in 2018 and will now become part of the recently formed Arch UK Regional Division – which has a focus on travel, commercial property, casualty, motor, professional liability and personal accident.
CEO of Arch UK Regional Division Steve Bashford commented: “Obelisk has been known to us through close association with Axiom and we are pleased to welcome the team into the UK Regional Division at Arch. Operating from existing locations in Leicester and Sheffield, the team will continue to deliver a comprehensive range of property and liability products to their existing brokers while introducing a number of new specialist lines, including professional indemnity, cyber, personal accident and terrorism.”
Perry Askew, who has been Director of the Obelisk team for 10 years, said: “We are delighted to be joining the Arch UK Regional team at such an exciting time. Arch’s investment plans in the e-commerce environment, plus its commitment to providing experienced and empowered underwriters in the regions ,makes this a perfect home for the team.”