Amphitrite Underwriting, the marine insurance specialist, has attained complete autonomy by repurchasing a minority stake previously held by Arch Group.  

The establishment of Amphitrite in 2018 was initially supported by seed investment and capacity backing from Arch. 

Arch will retain its role as a key capacity provider and continue to lead Amphitrite’s Marine Hull portfolio.  

Amphitrite Underwriting CEO Konstantinos Tampakakis said: ”This is a significant milestone in our ongoing journey of transformative growth. Full independence will accelerate our ability to onboard market-leading underwriters who share our long-term vision of building a specialist, diversified marine MGA [managing general agent].  

“I would like to thank Arch for their belief in us from day one, and for their continued support as a key capacity provider.” 

Amphitrite’s portfolio includes a variety of marine insurance products such as coverage for hull and machinery, cargo and other marine-related risks.  

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The company’s clientele includes operators of diverse vessel types, ranging from general cargo ships to specialised vessels such as yachts and fishing boats. 

In addition to insurance offerings, Amphitrite provides risk management services, focusing on the implementation of strategies for loss prevention and mitigation across its product range. 

Amphitrite Underwriting CUO Daniel Boutcher stated:  ”Our technical approach and underwriting discipline have clearly differentiated us in the marine hull sector. As we grow, we will apply these same principles across other marine classes. For our clients, consistent underwriting and first-class claims service remain paramount.” 

Meanwhile, Arch Insurance North America has appointed Jeff Kaufmann to the newly established position of executive vice-president, head of marine.  

Kaufmann will be responsible for the expansion of Arch’s marine insurance offerings in the US, including both ocean and inland marine products.