Specialist marine managing general agent Amphitrite Underwriting Limited has completed a buyback of the minority shareholding previously owned by Arch Group. The completion of the deal sees Amphitrite become fully independent. It launched in 2018 with strategic seed investment and capacity backing from Arch.

Konstantinos Tampakakis, CEO of Amphitrite Underwriting Limited, 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. I would like to thank Arch for their belief in us from day one, and for their continued support as a key capacity provider."

Hugh Sturgess, CEO of Arch Insurance International, added: "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."