Axiom becomes part of Arch UK Regional Division alongside the ex-Ardonagh commercial lines book acquired in January
Arch Insurance has bought the remaining shares of Axiom Underwriting.
Having initially taken a 60% share in 2015, Axiom will now become part of the recently formed Arch UK Regional Division, alongside the ex-Ardonagh commercial lines book, acquired in January.
Axiom will bring £20m of gross written premium to the to the division and an additional office. Twenty employees will move to Arch as part of the deal.
“We are pleased to announce the completion of the acquisition of the remaining shares in Axiom, which was the origin of Arch’s decision to become more visible in the UK Regional markets,” said Steve Bashford, chief executive of the Arch UK Regional Division.
“We are excited to make it a fully integrated part of the expanding UK regional presence that Arch is building.”
Arch UK Regional Division has a focus on commercial property, casualty, motor, professional liabiliity, personal accident and travel
Bashford added: “The Axiom team has been led by Mike Bottle for 15 years and, having worked alongside Mike for the last five years, we are delighted to not only welcome his team into Arch but also to see him assume a senior role in the UK Regional Division as SVP and head of strategy and distribution.”
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