The correlation functions of the multi-arc complex matrix model are shown to be universal for any finite number of arcs, The universality classes are characterized by the support of the eigenvalue density and are conjectured to fall into the same classes as the ones recently found for the Hermitian model, This is explicitly shown to be true for the case of two arcs, apart from the known result for one arc, The basic tool is the iterative solution of the loop equation for the complex matrix model with multiple area, which provides all multi-loop correlators up to an arbitrary genus. Explicit results for genus one are given for any number of arcs, The two-are solution is investigated in detail, including the double-scaling limit. Ln addition universal expressions for the string susceptibility are given for both the complex and Hermitian model. (C) 1997 Published by Elsevier Science B.V.