Arch Capital Group completes acquisition to strengthen London focus

Insurance, reinsurance and mortgage business Arch Capital Group has completed the acquisition of Barbican Group Holdings and its associated entities, including Barbican Managing Agency, Lloyd’s Syndicate 1955 and Castel Underwriting Agencies.

The transaction, which was finalised at the end of November, will see Barbican Group Holdings consolidated into Arch Capital Group’s insurance and reinsurance operations; the firm will continue to grow partnerships with third-party capital relationships.

Castel Underwriting Agencies, however, will operate independently, receiving financial support for growth from Arch Capital Group.

Signed deal

RBC Capital Group provided financial advice to Arch, while Barbican Group Holdings was supported by TigerRisk Capital Markets and Advisory. Arch had legal advice from Womble Bond Dickinson and Carlson Capital received legal assistance from Willkie Farr and Gallagher.

Bermuda-based Arch Capital Group, which operates globally through its wholly owned subsidiaries, has around $12.89bn in capital, as at 30 September 2019.

Nicolas Papadopoulo, chairman and chief executive at Arch Worldwide Insurance Group, said: “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.”