Ark

Scaled-up Ark “hits the ground running” with $270mn GWP at 1.1

Scaled-up (re)insurance platform Ark Insurance Holdings generated gross written premiums in excess of $270mn at the 1 January renewal after it “hit the ground running”, according to White Mountains CEO Manning Rountree.

White Mountains says Ark wrote $270mn+ at 1.1 as profits surge on MediaAlpha investment

The rocketing post IPO share price of MediaAlpha means that the value of White Mountains’ remaining stake in the insurance-focused tech firm has jumped 40 percent to $1.13bn since the end of 2020, as the Bermudian also revealed its minority investment Ark wrote $270mn+ of GWP at the 1.1 renewal.

AM Best assigns Ark’s Bermuda platform A rating

Ark’s scaled-up White Mountains-backed Class 4 Bermudian platform has today officially received its A (Excellent) financial strength-rating from rating agency AM Best.

Ark’s Bermuda platform in line for A AM Best rating

Ark’s scaled-up White Mountains-backed Class 4 Bermudian platform has been assigned an AM Best preliminary credit assessment (PCA) for financial strength of A that indicates it will receive a full rating in line with Lloyd’s and a notch higher than that typically handed to start-ups.

Validus exits continue as Ark Bermuda hires Manders’ duo and cat underwriter Robinson

Expansive Lloyd’s carrier Ark is adding further Validus Re executives to its new Class 4 Bermuda platform with the hires of Tom Gregory and Cameron Maffit to lead specialty reinsurance, while retro and property treaty-focused Mark Robinson is also joining from the AIG-owned carrier, The Insurer can reveal.

Ark syndicates 4020 and 3902 greenlit for 25% pre-emption

Upsized Lloyd’s insurer Ark has received approval for its two syndicates – 4020 and 3902 – to expand their collective stamp capacity by 25 percent next year, one of the larger increases on Lime Street in 2021, The Insurer can reveal.

Ark swoops on Hamilton for casualty trio as Bermuda platform build-out commences

Lloyd’s insurer Ark has begun putting boots on the ground in Bermuda, hiring three senior casualty underwriters from Hamilton, after securing $800mn in backing from White Mountains earlier this month, The Insurer can reveal.

White Mountains to acquire majority stake in Ark

White Mountains is to acquire a majority interest in Ark Insurance Holdings and invest additional capital to facilitate the Lloyd’s insurer’s expansion plans.

Argenta in talks to buy rival’s US arm Ark Underwriting Inc

Hannover Re-owned Argenta Syndicate Management Ltd is in exclusive talks to acquire Ark Underwriting Inc (AUI), the Hartford-based service company of expansive Lloyd’s insurer Ark Syndicate Management Ltd, The Insurer can reveal.

Pembroke hires Ark’s specialty programmes lead Williams

Hamilton-owned Pembroke Managing Agency has swooped on Ark for its specialty programmes senior underwriter Karyn Williams, The Insurer can reveal.

Ark, TMK and Faraday amongst Lloyd’s syndicates imposing SRCC exclusions

Several Lloyd’s syndicates – including those managed by Ark, TMK and Faraday – are imposing exclusions for strike, riot and civil commotion (SRCC) in large scale property coverage, The Insurer can reveal.

Lloyd’s carrier Ark looks for $750mn-$1bn in post Covid-19 PE raise

Lloyd’s insurer Ark is looking to raise $750mn to $1bn to capitalise on the hardening specialty (re)insurance markets and form a Class 4 Bermudian reinsurer, The Insurer can reveal.

Ark hires five-strong Neon D&F team

Lloyd’s insurer Ark will shortly apply for a Lloyd’s pre-emption to accommodate a well-regarded D&F property team and give the managing agency headroom to absorb the continuing rate increases in the class.

Ark in TUPE swoop for six-strong political risk AmTrust team

Lloyd’s insurer Ark has lured a six-strong AmTrust-at-Lloyd’s team of political risk and violence underwriters following the latter’s acquisition by rival Lime Street carrier Canopius, The Insurer can reveal.