Filed Under:Claims, Auto

Ariel Re Sell-off complete

NU Online News Service, April 12, 11:09 a.m. EDT

The break-up of Ariel Re finished with both Arch and Goldman Sachs saying they have completed their purchases of Ariel Re Credit and Surety and Ariel Reinsurance’s Bermuda operations.

In March, both Arch and Goldman Sachs announced they would acquire portions of Ariel from Ariel Holdings.

Arch acquired Ariel Re’s credit and surety reinsurance business, based in Zurich, Switzerland. The team joins the Zurich branch office of Arch Reinsurance Europe Underwriting.

Arch says the “team is operational and Arch Re Europe anticipates a seamless transition for service to both clients and intermediaries.”

Goldman says it completed the purchase of Ariel Reinsurance’s Bermuda-based insurance and reinsurance operations.

The acquired business is being combined with Goldman’s existing business underwritten through Lloyd’s Syndicate 1910 and will operate as part of Goldman Sachs Reinsurance Group under the brand name of Ariel Reinsurance.

Purchase price for both transactions was not disclosed.

Featured Video

Most Recent Videos

Video Library ››

Top Story

A look ahead: What 2016 will bring for the P&C industry

Examining the forces that will shape your business in the year to come.

Top Story

20 funny jokes for a work holiday party

With the holidays just around the corner, the stress of the season calls for a great laughing session.

More Resources


eNewsletter Sign Up

Claims Connection eNewsletter

Breaking news on disasters, fraud, legal trends, technology, and CE initiatives for the P&C claim professional – FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.