Somerset Bridge is sold
A subsidiary of Bermuda-based Arch Capital Group Ltd has completed the previously disclosed acquisition of Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates.
Arch Reinsurance Ltd originally announced its planned acquisition on June 23.
William Soares, head of specialty for Arch Re, said: “We are pleased to complete this transaction. Clients will continue to benefit from Somerset’s quality insurance solutions and customer service, which are now backed by the financial strength and innovation of Arch Capital Group.
“I want to thank the teams on all sides for their dedication to successfully completing this acquisition.”
Arch Re, part of Arch Capital Group Ltd, operates in the specialty property and casualty reinsurance marketplace.
Arch Capital Group is a publicly listed Bermuda exempted company with approximately $16.7 billion in capital at June 30. It provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
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