Arch Insurance (UK), part of Arch Insurance International, has completed its acquisition of Axiom Underwriting, having purchased a 60% share in the business in 2015.
Axiom, which generated approximately £20 million of gross written premium in 2018, will become part of the recently-formed Arch UK Regional Division. 20 employees will move to Arch as a result of the transaction.
The completion of this acquisition adds an additional office and team to the Arch UK Regional Division.
“We are pleased to announce the completion of the acquisition of the remaining shares in Axiom, which was the origin of Arch’s decision to become more visible in the UK Regional markets,” said Steve Bashford, Chief Executive Officer of the Arch UK Regional Division.
“We are excited to make it a fully integrated part of the expanding UK Regional presence that Arch is building.”
“The Axiom team has been led by Mike Bottle for 15 years and, having worked alongside Mike for the last five years, we are delighted to not only welcome his team into Arch but also to see him assume a senior role in the UK Regional Division as SVP and Head of Strategy and Distribution.”