Bermuda-based agency, Helix Underwriting Partners Ltd. has entered into an equity investment agreement under which global insurer Arch Capital Holdings Ltd. has become a minority shareholder.
According to the announcement, this transaction further solidifies the strong trading relationship between Helix and Somers Re Ltd., a global specialty property and casualty re/insurance company in which Arch holds a minority investment.
This relationship began in April 2021 with the launch of the Excess Casualty program and expanded in January 2022 with the Middle Market Property Insurance program.
“Helix stands to benefit from the expanded strategic relationship with Arch and the insurance capacity provided by Somers. Helix is better positioned to continue pursuing strategic growth opportunities and broaden the insurance products offered through its agency platform,” the agency stated.
Helix was established in December 2018 as Bermuda’s first independent multi-line Managing General Agent (MGA).
It is currently led by the senior management team of Tim Hadler, Claude Lefebvre, Nicholas Lucking, and Nigel Mortimer, Helix counts with 11 employees.
The company has worked with multiple insurance carrier partners and blue-chip reinsurers, writing close to $200m in gross premium and generating industry-leading underwriting results.
The Helix independent agency model builds distribution channels by combining underwriting talent, product knowledge, and technology into a delivery platform, generating superior risk-adjusted returns for strategic partners.