Barbican will be consolidated into Arch’s Insurance and Reinsurance operations while continuing to grow partnerships with third-party capital relationships
Arch Capital Group Ltd. [NASDAQ: ACGL] today announced the completion of its previously disclosed acquisition of Barbican Group Holdings Limited (Barbican), including Barbican Managing Agency Limited, Lloyd’s Syndicate 1955, Castel Underwriting Agencies Limited (Castel) and other associated entities.
“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,” said Nicolas Papadopoulo, Chairman and CEO of Arch Worldwide Insurance Group.
Barbican will be consolidated into Arch’s Insurance and Reinsurance operations while continuing to grow partnerships with third-party capital relationships. Castel will continue to operate independently with financial support for its continued growth provided by Arch.
RBC Capital Markets acted as exclusive financial advisor to Arch. TigerRisk Capital Markets & Advisory acted as exclusive financial advisor to Barbican. Legal advisors to Arch were Womble Bond Dickinson (UK) LLP, with Willkie Farr & Gallagher (UK) LLP acting as legal advisors to Carlson Capital.
Source: Company Press Release