Insurance
Home›Insurance›Industry & Deals›SafePoint buys minority stake in UK specialty MGA Arro…
SafePoint buys minority stake in UK specialty MGA Arrow Risk Management
SafePoint said the deal is its first international partnership and will add its international underwriting chief to Arrow’s board.
SafePoint Holdings has acquired a minority stake in UK specialty MGA Arrow Risk Management, marking the US insurer’s first international partnership, Coverager reports.
Financial terms were not disclosed. Arrow will continue to be led by founders Jon Godfray, Mark Harrington and Lloyd Howson, while SafePoint international underwriting chief Chris Sharp will join Arrow’s board.
The companies plan to support Arrow’s existing underwriting practices, recruit additional specialist teams, and develop relationships with new insurance and reinsurance capacity providers. They also intend to explore collaboration across technology, data and analytics, exposure management, and international expansion.
Arrow provides underwriting and operational infrastructure to teams operating across financial lines, aviation, renewable energy, technology, professional indemnity, property, and marine. SafePoint manages Manatee Insurance Exchange and Cajun Underwriters Reciprocal Exchange, and it owns SafePoint Insurance Company.