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

The acquired business, which generated more than $190 million of gross written premium in 2017, 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.

Financial details of the deal, which was first announced on Nov. 1, 2018, were not disclosed.

As previously outlined, the acquisition 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. The Arch UK Regional Division will have a meaningful presence and an extended office network across the UK.

“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 CEO, Arch Insurance Europe.

“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,” he added. “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.”

Arch Insurance Europe underwrites specialty lines business through two platforms from its base in London: Arch Insurance Company (Europe) Ltd. and Arch Syndicate 2012, which is managed by Arch Underwriting at Lloyd’s Ltd.

Source: Arch Insurance Europe

*This story ran previously in our sister publication Insurance Journal.