“Arch has been established in Ireland over the past decade, so Arch`s existing platform in Ireland was the natural choice for Arch to ensure the continuity of the EU business currently underwritten by its insurance operations in the UK and Gibraltar, including in particular the car insurance business. We look forward to continuing our strong relationships with our partners and regulators in Ireland, the UK and Gibraltar and continuing to serve our policyholders across the EU and the UK,” said Maamoun Rajeh, President and CEO of Arch Worldwide Reinsurance Group. We provide insurance solutions for niche businesses in underserved areas of the market, including self-leasing, freight forwarding and courier activities. Capulus is a niche insurance agency operating in the UK fleet market and is authorised and regulated by the Financial Conduct Authority FRN. 812830. As a large and diversified international group, Arch has an established presence in Ireland with significant local experience, having established its Irish reinsurance business there in 2008 and its insurance business in 2012. Arch`s choice of Ireland for its Brexit plans is based on a number of key objectives, including: Capulus Limited continues to operate in these challenging times. If you are experiencing financial difficulties and are having difficulty paying your premium, or if you would like to discuss the potential impact of COVID-19 on your insurance arrangements, please contact your broker for assistance. Following discussions with the Central Bank of Ireland, Arch is seeking regulatory approval from Ireland to continue certain underwriting operations of its UK insurer Arch Insurance Company (Europe) Limited and its insurer Alwyn Insurance Company Limited in Gibraltar.
These transactions will be carried out by an existing insurance platform based in Ireland with additional business licences acquired to match those used in the current operations in the UK and Gibraltar. We combine highly experienced and qualified underwriters with the A+ insurance capabilities provided by our partners at Alwyn Insurance Company Limited. This, complemented by our market-leading IM and rigorous approach to risk and claims management, allows us to offer a state-of-the-art underwriting agency for the UK fleet insurance market. Arch Capital Group Ltd., a Bermuda-based company with a capital of approximately $11.26 billion as of March 31, 2018, provides insurance, reinsurance and mortgage insurance through its wholly-owned subsidiaries worldwide. Forward-looking statements can generally be made using forward-looking terminology such as “may”, “expects”, “intends”, “estimates”, “anticipates”, “believes” or “continues” or its negative variations or variations or similar terminology can be identified. Forward-looking statements include our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied by such statements. Securities and Exchange Commission. Through the syndicate`s stake in Lloyd`s Market in 2012, Arch continues to strive to serve its Lloyd`s clients by establishing Lloyd`s Insurance Company in Brussels. Customers and business partners should continue to contact their existing contact person in the market for details on managing the transition to the new agreements.
Alwyn is a wholly-owned subsidiary of Arch Capital Group Ltd and holds the A+ financial strength rating of A.M. Best Company. The Private Securities Litigation Reform Act of 1995 provides a “safe haven” for forward-looking statements. This press release or other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may contain forward-looking statements that reflect our current views regarding future events and financial performance. All statements, other than statements of historical fact, contained in this press release or referred to in this press release are forward-looking statements. Arch Capital Group Ltd.Francois Morin, (441) 278-9250 Matt Shulman, President and Ceo of Arch Insurance Europe in London, added: “This decision provides Arch Insurance Europe with the opportunity to strengthen our capabilities in Europe, in addition to a continued presence in London through our existing UK operations. We see strong economic fundamentals in the trading bloc, with growth expected in the manufacturing, oil and gas and financial services sectors over the next five years, and we know Arch can add significant value in this area. Arch`s plans to renew its existing licences in Dublin are underway with the Central Bank of Ireland, and the plans are expected to be approved and promulgated in time for Brexit. Cautionary Note Regarding Forward-Looking Statements. Our underwriters will be happy to discuss our risk tolerance in detail with you.
HAMILTON, Bermuda–(BUSINESS WIRE)–Arch Capital Group Ltd.