Arch Reinsurance Ltd., the specialty property and casualty reinsurance subsidiary of Bermuda-based Arch Capital Group Ltd., has announced the completion of its acquisition of Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset).
First announced in June 2021, the transaction includes Somerset’s motor managing general agent, distribution capabilities via direct and aggregator channels, and the company’s affiliated insurer and fully integrated claims operation.
Arch Re says that the purchase of Somerset’s full value chain platform will deepen its motor and distribution capabilities in the UK.
“We are pleased to complete this transaction,” said William Soares, Head of Specialty for Arch Re.
“Clients will continue to benefit from Somerset’s quality insurance solutions and customer service, which are now backed by the financial strength and innovation of Arch Capital Group,” Soares added. “I want to thank the teams on all sides for their dedication to successfully completing this acquisition.”
