MGA moves to full independence as it announces buyback of Arch’s minority shareholding

Specialist marine hull MGA Amphitrite Underwriting London has announced its transition to full independence following its buyback of Arch’s minority shareholding.

In 2018, Arch provided Amphitrite strategic seed investment and capacity backing, which enabled the MGA to enter the market the following year. 

Despite heightened scrutiny in the marine sector during this period, Amphitrite established itself as a niche marine MGA and has nearly reached seven years in the sector.  

Konstantinos Tampakakis, chief executive at Amphitrite, said: ”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.”

Daniel Boutcher, chief underwriting officer at 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.’”

‘Unwavering support’

Continuing to lead Amphitrite’s Marine Hull portfolio in the years ahead, Arch will remain as a long-term capacity provider. 

Hugh Sturgess, chief executive at Arch Insurance International, said: “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.”

Tampakakis added: “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.”