Arch Follows Other Insurers Moving Biz Out Of UK Pre-Brexit
Law360, London (September 10, 2020, 6:27 PM BST) -- An Arch Capital Group Ltd. insurance unit is seeking approval from Britain's High Court to transfer nearly 75% of its U.K. business to an Irish subsidiary ahead of Britain's withdrawal from the European Union, the latest insurer making the move to ensure it can continue serving cross-border customers.
During High Court proceedings Thursday before Judge Sebastian Prentis, a lawyer for Arch Insurance (UK) Ltd. said his client wanted to transfer all of its non-U.K. European policies and associated reinsurance protections to Arch Insurance (EU) DAC.
"You will no doubt have gathered that it is a Brexit-inspired transfer and will involve about...
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