Amphitrite repurchases Arch’s minority shareholding

Amphitrite Underwriting London, a marine hull specialist managing general agent (MGA), has bought back Arch’s minority shareholding in the company, transitioning to full independence.

Amphitrite was founded in 2018, and with strategic seed investment and capacity backing from Arch. It entered the market in 2019 to build a specialist marine MGA with technical underwriting and outstanding service at its core.

Despite heightened scrutiny in the marine sector at the time, Amphitrite quickly established itself as a niche marine MGA. After nearly seven years of successful underwriting, this milestone marks a pivotal step in Amphitrite’s evolution.

The MGA explained that Arch will remain as a valued long-term capacity provider, continuing to lead Amphitrite’s Marine Hull portfolio in the years ahead.

Konstantinos Tampakakis, Chief Executive Officer (CEO), Amphitrite, commented, “This is a significant milestone in our ongoing journey of transformative growth. Full independence will further enhance our ability to attract market-leading underwriters who share our long-term vision of building a specialist, diversified global marine MGA. I would like to thank Arch for their unwavering support from the very beginning and for their continuous support as a key strategic capacity provider.”

Daniel Boutcher, Chief Underwriting Officer, Amphitrite, added, “‘Our technical expertise and disciplined underwriting have set us apart in the marine hull market. As we expand, we are committed to applying the same principles and underwriting philosophy to other core marine segments. Delivering consistent underwriting and exceptional claims service continues to be central to our approach.”

Hugh Sturgess, CEO of Arch Insurance International, stated, “On behalf of Arch, I would like to congratulate Amphitrite on establishing a successful underwriting franchise in the marine sector. We look forward to maintaining our strong underwriting partnership and wish the team ongoing success with achieving their strategic objectives.”