Arch completes Barbican acquisition
Bermudian-based re/insurer Arch Capital Group Ltd has completed the acquisition of Barbican Group Holdings Ltd, including Barbican Managing Agency Ltd, Lloyd’s Syndicate 1955, Castel Underwriting Agencies Ltd (Castel) and other associated entities.
The deal was first announced in July this year.
“We are excited to complete this transaction, which deepens Arch’s commitment to both Lloyd’s and the London market and provides our brokers and clients more access to Arch’s insurance and reinsurance platforms,” Nicolas Papadopoulo, chairman and CEO of Arch Worldwide Insurance Group, said.
Barbican will be consolidated into Arch’s insurance and reinsurance operations while aiming to grow third-party capital relationships.
Castel will continue to operate independently with financial support for growth provided by Arch.
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