Arch Reinsurance Ltd. Announces Completion of Restructuring of Gulf Reinsurance Ltd.

Arch Reinsurance Ltd. (Arch) announced today that its acquisition of Gulf Reinsurance Ltd. (Gulf Re), a specialty reinsurer based in the Dubai International Financial Centre, has been completed. Gulf Re was founded jointly by Arch and the Gulf Investment Corporation (GIC) in 2008. In 2014, Arch and the GIC signed an agreement whereby Arch would acquire 100% ownership of Gulf Re. The agreement provides that, among other things, Arch will acquire all of Gulf Re Holdings Limited (Gulf Holdings), which is the parent of Gulf Re, through a reduction in the share capital of Gulf Holdings and Archs purchase of 50% of Gulf Holdings from the GIC.