Arch Insurance Europe has acquired 100 percent of Resource Underwriting Pacific Pty Ltd (RUPPL), the Melbourne-based MGA. RUPPL will be added to Arch Insurance Europe’s current holdings in Australia.
James Weatherstone, Arch Insurance Europe chief executive, said: “We are delighted to announce this acquisition and are extremely excited about the opportunity this will give us to expand our footprint in the Australian market.”
Paul Muller, the former managing director of RUPPL who will now serve as senior vice president of Arch Underwriting (Australia) Pty Ltd (the Arch affiliate in Australia) stated: “This is fantastic news for both RUPPL and our broker partners. We have been searching for a partner for a couple of years who would share our vision to develop an all commercial lines platform in Australia. This strategic step will give Arch in Australia the best possible platform with which to achieve our ambitions for growth in this region.”
Source: Arch Underwriting at Lloyd’s (Australia) Pty Ltd.
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