Arch Capital Group has completed its purchase of Barbican Group Holdings, including Barbican Managing Agency, Lloyd’s Syndicate 1955 and Castel Underwriting Agencies. The deal was first announced in July.

Arch Worldwide Insurance Group chairman and chief executive officer, Nicolas Papadopoulo said: “We are excited to complete this transaction, which deepens Arch’s commitment to both Lloyd’s and the London market and provides our brokers and clients more access to Arch’s Insurance and Reinsurance platforms.”

The insurer, headquartered in London, will be consolidated within the group’s insurance and re/insurance operations while continuing to grow partnerships with third-party providers.

Castel will continue to operate independently with financial support provided by Arch.

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