Arch Insurance Europe has snapped up the UK commercial lines business owned by The Ardonagh Group, and part of its Geo Underwriting operating segment, it has been revealed.
The asset-only deal includes the renewal rights for Fusion, Arista and Towergate Commercial Underwriting, which generated more than £150 million (around NZ$292 million) of GWP in 2017 and is focused on writing commercial property, casualty, motor, professional liability, personal accident and travel.
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