Arch Capital Holdings has become a minority shareholder in Helix Underwriting Partners, the first independent multi-line managing general agent in British overseas territory Bermuda that was set up in 2018.
“The transaction further solidifies the strong trading relationship between Helix and Somers Re Ltd, which began in April 2021 with the launch of the excess casualty program and expanded in January 2022 with the middle market property insurance program,” a Helix spokesperson was cited by Bernews as saying.
“Somers is a global specialty property and casualty insurance and reinsurance company in which Arch Reinsurance Ltd holds a minority investment. Helix stands to benefit from the expanded strategic relationship with Arch and the insurance capacity provided by Somers.”
According to the MGA, which has nearly US$200 million in gross written premium, it is now better positioned to continue pursuing strategic growth opportunities and broaden its platform’s offerings.
Financial terms of the equity investment were not disclosed.
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