Arch Insurance Europe has completed 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 the newly-formed Arch UK Regional Division, focused on commercial property, casualty, motor, professional liability, personal accident and travel.
Approximately 250 employees will move to Arch as a result of the transaction.
“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,” commented Matt Shulman, President and Chief Executive Officer, Arch Insurance Europe.
The acquisition reportedly forms part of Arch’s strategy to grow its regional UK presence and deliver underwriting expertise and a strong customer value proposition through an expanded retail distribution network.
“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,” added Shulman.
“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.”