Arch Opens Underwriting Office in Australia

Arch Underwriting at Lloyd's said it has launched a new office, Arch Underwriting at Lloyd's (Australia) Pty Ltd., in Sydney with an initial focus on commercial property lines.

"The establishment of an Arch-owned and -managed underwriting platform in Sydney is a significant development for our Lloyd's [85202] syndicate," said James Weatherstone, president and chief executive officer at Arch Insurance Europe. Arch Underwriting at Lloyd's is part of the Arch Insurance Europe underwriting platform.

"Our intention is to develop a book of indigenous commercial property business, which is not typically seen by the London market," said Weatherstone in a statement. The new Sydney office is a service company as part of Arch group of companies.

Adam Matteson is the regional director for Arch Underwriting at Lloyd's (Australia). Matteson was most recently responsible for national property products in Australia at Munich Re [85011].

Arch Insurance Europe underwrites specialty lines through Arch Insurance Co. (Europe) [77102] and Arch Underwriting at Lloyd's, or Syndicate 2012, from London.

Arch Insurance Co. (Europe) Ltd. currently has a Best's Financial Strength Rating of A (Excellent).

(By Iris Lai, Hong Kong bureau manager: Iris.Lai@ambest.com)