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International

Bermuda's Arch Capital to snap up rest of Gulf Re

December 01, 2014 Reprints

Bermuda-based Arch Capital Group Ltd. has said that it would take complete ownership of Gulf Reinsurance Ltd., Bloomberg reports.

A.M. Best Co. Inc. recently said Gulf Re is likely to record a loss of around $20 million to $30 million in 2014, adding that the "primary driver of the weak performance in recent years is a higher-than-expected frequency of large losses." Arch said that "Gulf Re is strongly positioned for opportunities in the marketplace" with new strategic initiatives in place.

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Bermuda's Arch Capital to snap up rest of Gulf Re

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