Filed Under:Markets, Commercial Lines

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

7 ways to mitigate risk for businesses before the next natural disaster

Now that the recent hurricanes and wildfires have subsided, here are seven things you can do to make sure your business is ready for the next disaster.

Top Story

20 home insurance companies ranked highest for customer satisfaction

The J.D. Power 2016 U.S. Home Insurance Study provides a comprehensive look at customer satisfaction with homeowners' insurance coverage.

More Resources


eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.