Independent Operations Now for Amphitrite Underwriting
Amphitrite Underwriting London, a specialist marine insurance provider, has marked a significant milestone in its journey towards sustainable growth and strategic development. Following the buyback of Arch's minority shareholding in 2025, the company has transitioned to full independence, setting the stage for broader global expansion[1][2][4].
Initially founded in 2018 under Arch's partial ownership, Amphitrite started with a focused expertise in specialist marine hull insurance. Since gaining full independence, it has broadened its product offering to include cargo and marine war insurance, leveraging Lloyd's capacity[2]. Despite the equity buyback, Arch continues to support Amphitrite as a key capacity provider for its core marine hull business, reflecting a sustained strategic partnership[2].
The CEO of Amphitrite, Konstantinos Tampakakis, emphasized that full independence will further enhance their ability to attract market-leading underwriters. He stated, "This independence allows us to innovate and grow more broadly in the marine insurance market." Arch Insurance International's CEO, Hugh Sturgess, congratulated Amphitrite on establishing a successful underwriting franchise in the marine sector[2].
Amphitrite's technical expertise and disciplined underwriting have set them apart in the marine hull market. In 2019, the company entered the market with a focus on building a specialist marine MGA with technical underwriting and outstanding service. This focus paid off, as Amphitrite quickly established itself as the market-leading niche marine MGA amid heightened scrutiny in the marine sector[1].
In addition to Arch, Amphitrite has garnered support from other industry players. Tysers has acted as the MGA's regulatory principal, supporting its growth. Notably, Amphitrite Underwriting London has received full authorization from the UK Financial Conduct Authority (FCA), effective from January 31, 2024, and final approval from Lloyd's of London to become an approved coverholder[1][4].
Looking forward, Amphitrite’s future plans involve diversifying its global marine insurance offerings beyond the traditional hull segment to incorporate broader marine risks. The company's commitment to applying the same technical expertise and disciplined underwriting to other core marine segments is a testament to its dedication to delivering exceptional service and value to its clients[1].
In a separate development, Tokio Marine HCC (TMHCC) has announced a new senior level appointment. Details about the appointment were not provided in the available information[1].
Arch, for its part, looks forward to maintaining its strong underwriting partnership with Amphitrite and wishes them ongoing success with achieving their strategic objectives. With its newfound independence and expanded product offerings, Amphitrite is poised for a bright future in the marine insurance industry.
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