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The merger may cause price increases or reduced service levels for major insurance buyers. -
The broking network will be the UK group's Australian centrepiece, says CEO David Ross.
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Both private equity deals were vetted under simplified EU merger procedure.
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The buyer will use the acquisition to expand Arena beyond Belgium and into other European markets.
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Apollo Syndicate Management will manage the new 1994, which starts out with $125mn of net reserves.
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The takeover last year was a significant piece of InsurTech M&A.
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The HGGC-backed broker’s latest acquisition specialises in trade credit.
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Sources have emphasised that such pauses are a routine part of the Phase II review process.
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Phase II reviews conducted by the supranational body can take up to 135 days to complete.
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The two PE firms each take a 30% stake in the business, alongside Arch management.
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The broker's latest report also reveals a consideration of $330mn for Bollington.
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Michael Burwell, Gene Wickes, Carl Hess and Joseph Gunn will each receive a payment for staying with the business until the deal closes.
