Arch Insurance (UK) has concluded the takeover of Obelisk Underwriting, a specialist underwriting agency.
Obelisk acquisition adds two new UK regional offices and a specialist underwriting team to Arch’s UK Regional Division.
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The acquired entity generated nearly £5m ($6.54m) in gross written premium (GWP) last year.
Obelisk Underwriting team director Perry Askew said: “We are delighted to be joining the Arch UK Regional team at such an exciting time.
“Arch’s investment plans in the e-commerce environment plus its commitment to providing experienced and empowered underwriters in the regions makes this a perfect home for the team.”
Arch UK Regional Division focuses on casualty, motor, commercial property, professional liability, personal accident and travel business.
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By GlobalDataArch UK Regional Division CEO Steve Bashford said: “Obelisk has been known to us through close association with Axiom and we are pleased to welcome the team into the UK Regional Division at Arch.
“Operating from existing locations in Leicester and Sheffield, the team will continue to deliver a comprehensive range of Property and Liability products to their existing brokers while introducing a number of new specialist lines including Professional Indemnity, Cyber, Personal Accident and Terrorism.”
Arch Insurance International invested an undisclosed amount in Archipelago Risk Services, a personal lines managing general agency (MGA), last month.
