LONDON (Thomson Financial) - Ariel Holdings Limited said it has declared its offer for Atrium Underwriting unconditional as Ariel holds or has agreed to acquire or or has received valid acceptances of a total of 47.09 million Atrium shares, representing about 90.14 percent of the share capital.

On July 20, Ariel, a unit of Bermuda-based reinsurer Ariel Re, made a recommended 365 pence-per-share offer for Atrium, valuing the company at £193.2m ($388.7m).