Arch Capital Group reported $15.8b in the capital in March 2021. Credit: Tumisu from Pixabay.

Arch Re, a subsidiary of Arch Capital Group, has agreed to acquire Somerset Bridge Group, Southern Rock Holdings and affiliates.

The financial value of the proposed acquisition was not disclosed.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Based in Bristol, England, Somerset Bridge offers personal lines insurance and specialises in private motor and a diversified range of specialist policies from home and life insurance.

As per the agreement, Arch Re will acquire Somerset’s motor MGA, distribution capabilities through direct and aggregator channels, affiliated insurer, and fully integrated claims operation.

Arch Re head of speciality William Soares said: “This proposed acquisition supports our strategy of diversifying our sources of premium and allows for collaborative cycle management of the class over time. This transaction also anchors our UK motor coinsurance and reinsurance capacity with a fully integrated platform. Somerset brings strong product and distribution capabilities.

“Coupled with Arch’s analytical capabilities and capital management, the combination of our two firms will provide an enhanced proposition to our customers, stakeholders and third-party capital providers.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal is subject to regulatory approval.

Arch Capital Group reported approximately $15.8b in the capital as of 31 March 2021.

In March this year, Global Mortgage Group of Arch Capital Group signed an agreement to acquire Westpac Lenders Mortgage Insurance Limited (WLMI).

Prior to that in February, Arch Insurance Company launched an online platform that allows brokers to streamline the pricing and purchase of Business Travel Accident (BTA) Insurance.