Antares Global Management Limited has restructured its underwriting operations, consolidating the group’s business units into two main divisions, retail and commercial, following two years of strategic reorganisation and investment.
The restructured business retains its dual-location underwriting entities in Bermuda and London, now operating under an aligned strategy led by global chief executive Mike van der Straaten. The setup aims to enhance coherence in underwriting and capital allocation across the group’s portfolio.
The new structure comprises a retail segment, led by retail CEO Pantelis Koulovasilopoulos, and a commercial division headed by Mark Graham, currently the chief executive of Antares at Lloyd’s.
Including the recently launched Antares Insurance Company Limited in the UK, the retail division will work primarily with managing general agents, while the commercial division will integrate the operations of Syndicate 1274 and Bermuda-based Antares Re.
“Building on our existing retail portfolio, we believe that there is a significant opportunity within the MGA sphere in the UK,” Koulovasilopoulos stated. “The retail business is forecast to write US$327 million by the end of 2024, rising to US$395 million by the end of 2025.”
Graham, meanwhile, had this to say: “The Antares Syndicate goes from strength to strength and, after remediation from 2017 to 2020, has outperformed the Lloyd’s market every year from 2020 onwards.
“This is a testament to the quality of our whole team and our investments in technology and MI (management information) to support the underwriters in identifying opportunities and exploiting them.”
He added: “By aligning reinsurance and insurance capacity into a single commercial division, we can work more efficiently with our capital base, improving capital efficiency and offering clients increased flexibility.”
According to van der Straaten, the move marks the completion of Antares’ evolution into a cohesive, capital-efficient organisation with a unified strategy.
“Antares has undergone a successful transition from separate entities to a group of underwriting platforms with aligned strategies, efficient use of capital, and positive results on a large book,” he highlighted. “This restructure completes our transition to a streamlined business that we are proud to be able to unveil to the market.
“We are excited about our plans for future growth as we maximise underwriting opportunities in both the UK and international markets.”
Meanwhile, to expand distribution, Antares also has plans to launch its own MGA in the coming months.
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