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Arch Capital Closes Acquisition of UK-Based Barbican Group Holdings
Monday 02 December 2019

2 December 2019 - Bermuda-based insurance provider Arch Capital Group Ltd. (NASDAQ: ACGL) has closed the acquisition of UK-based underwriting insurance provider Barbican Group Holdings Ltd. from funds managed by alternative asset management firm Carlson Capital, the company said.

The acquisition includes Barbican Managing Agency Ltd., Lloyd's Syndicate 1955, Lloyd's Syndicate 1856 (Arcus), Lloyd's Special Purpose Arrangement (SPA) 6132, Castel Underwriting Agencies Ltd. and other associated entities.

Terms of the transaction were not disclosed.

Arch Capital said the acquisition of Barbican deepens Arch's commitment to both Lloyd's and the London market and provides broker partners with a more comprehensive array of products and expertise.

Arch Capital Group Ltd., with approximately USD 12.49bn in capital at June 30, 2019, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.

RBC Capital Markets is acting as exclusive financial advisor to Arch. TigerRisk Capital Markets and Advisory is acting as exclusive financial advisor to Carlson Capital and Barbican. Legal advisors to Arch were Womble Bond Dickinson LLP, with Willkie Farr and Gallagher LLP acting as legal advisors to Carlson Capital.
Date Published: 02/12/2019
Target: Barbican Group Holdings Ltd
Country: USA
Sector: Insurance
Type: Corporate acquisition
Status: Closed
Vendor: Funds managed by alternative asset management firm Carlson Capital
Buyer: Arch Capital Group Ltd
Buyer Advisor: RBC Capital Markets , Womble Bond Dickinson LLP
Terms of the deal were not disclosed