Arch Re buys Somerset Bridge
The deal also adds Arron Banks’ Southern Rock Holdings to the reinsurer’s portfolio.
Arch Reinsurance, a subsidiary of Arch Capital Group is to buy Somerset Bridge Group and Southern Rock Holdings and affiliates, subject to regulatory approval.
According to the provider, the proposed acquisition will include Somerset’s motor managing general agent, distribution capabilities through direct and aggregator channels, affiliated insurer and fully integrated claims operation.
The deal sees Arch Re take 100% stake in the business with founder Arron Banks to exit. It is believed the
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