Arch Worldwide Reinsurance Group (Arch Re), a part of Arch Capital Group, has announced its acquisition of Sydney-based firm Precision Marketing Asia Pacific (PMAP), a provider of marketing and distribution services to banks, insurance companies, retail groups, and affinity partners across the Asia-Pacific region
In a statement, Arch Re said that the acquisition provides the two firms with “increased distribution opportunities for life, accident, and health products.”
“This acquisition supports our strategy of selectively pursuing diverse specialty markets where we can apply our knowledge and expertise,” said Maamoun Rajeh, chairman and chief executive officer of Arch Re. “We have ambitious plans for PMAP and, with our support, we intend to significantly increase our combined footprint across the Asia-Pacific region.”
“We have known the Arch team for some time, and we are incredibly excited to join the company,” said Keith Lowry, chief executive officer of PMAP. “The capital support that Arch brings will facilitate the scalability of our business model. Our intention is to work with our existing business partners to drive long-term profitable growth. We have identified high potential, innovative growth opportunities with Arch. Our team is focused on what looks like a bright future.”
