Amphitrite goes independent with share buyback

MARINE hull managing general agent Amphitrite has bought back the minority shareholding held by Arch, making it a fully independent company.

Amphitrite was launched in 2018 with both investment and capacity backing from the Bermuda-based insurance group.

Arch will remain a long-term capacity provider, the MGA said.

Amphitrite chief executive Konstantinos Tampakakis 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.”

Arch Insurance International chief executive Hugh Sturgess said: “We look forward to maintaining our strong underwriting partnership and wish the team ongoing success with achieving their strategic objectives.”