Arch Insurance North America announced earlier this week it has entered into a definitive agreement to acquire Ventus Risk Management, a technology and analytics-driven managing general underwriter (MGU) that specializes in providing coastal commercial property insurance solutions to small and mid-sized enterprises.
Arch claims that Ventus has become a trusted MGU for its capacity providers and a respected business partner for its producing brokers. Integrating Ventus into the Arch platform will notably enable third-party capital to provide capacity alongside Arch’s product offerings. Matt Shulman, CEO of Arch Insurance North America, further explained:
“Ventus is an insurtech company that has successfully deployed its offerings to support its underwriters, deliver best-in-class analytics and modeling capabilities and provide a superior customer experience. When combined with the scale of our E&S property portfolio and breadth of our relationships, we will bring enhanced value to our wholesale distribution partners.”
George Reeth, Ventus Co-Founder, also commented:
“I’m incredibly proud of what we’ve built at Ventus. By joining the Arch family, our employees will have access to a depth of resources that will allow them to continue to bring robust, creative solutions to the market and develop professionally.”
Stuart Mercer, Ventus Co-Founder, added:
“Arch is known for innovative structures that allow third-party capital to access insurance and reinsurance risks behind its strong underwriting expertise. The combined platform will bring broader capabilities and expanded capacity to Arch’s E&S property unit. I’m excited to continue to bring technology driven solutions to the marketplace when our producers and customers need it the most.”
