The expanding division already consists of Axiom and the ex-Ardonagh commercial lines book

Arch has completed the acquisition of specialist underwriting agency Obelisk Underwriting.

Obelisk, which wrote around £5m of gross written premium last year, will become part of the recently formed Arch UK Regional Division. Arch confirmed employees will move across as part of the deal.

It joins Axiom Underwriting, which it acquired earlier this month, and the ex-Ardonagh commercial lines book in the new division.

Arch created the division to expand its retail distribution network, and it is focused on commercial property, casualty, motor, professional liability, personal accident and travel.

Obelisk adds two further UK regional offices and another specialist underwriting team to the division.

Steve Bashford, chief executive of the Arch UK Regional Division, said: “Obelisk has been known to us through close association with Axiom and we are pleased to welcome the team into the UK Regional Division at Arch.

“Operating from existing locations in Leicester and Sheffield, the team will continue to deliver a comprehensive range of property and liability products to their existing brokers while introducing a number of new specialist lines including professional indemnity, cyber, personal accident and terrorism.”

Perry Askew, director of the Obelisk team for the past ten years added: “We are delighted to be joining the Arch UK Regional team at such an exciting time.

“Arch’s investment plans in the e-commerce environment plus its commitment to providing experienced and empowered underwriters in the regions makes this a perfect home for the team.”