Arrow Global Group (Arrow), a pan-European investment manager specializing in private credit and real estate, has launched Arrow Global Insurance (AGI), a strategic extension of its existing investment platform designed to capture institutional investment opportunities across the insurance value chain.
Through AGI, Arrow will deploy its underwriting, structuring and capital management expertise into the insurance market.
The platform focuses exclusively on specialty non-catastrophe insurance business, with results determined by in-depth analysis, customized risk assessments and disciplined capital allocation. Arrow explained that it does not operate in the climate, life or consumer insurance markets.
AGI specializes in property, casualty and specialty insurance, initially including ATE, contingent and transaction risk, credit risk and guaranteed products.
Arrow believes these product lines support complex legal and financial activities that are less well served by traditional insurance companies but increasingly have close relationships with corporate and private capital players.
AGI aims to bring origination, underwriting and investing into a single integrated structure. By controlling key elements of the insurance value chain at scale, including underwriting and risk-taking capital, Arrow aims to build multiple sources of returns.
These include underwriting margin, fee income and premium investment returns, creating a scalable, capital-efficient opportunity set for investors, backed by significant institutional capital from the outset.
“Arrow Global Insurance provides our investors with the opportunity to leverage Arrow’s expertise into the global specialty insurance market,” said Zach Lewy, CEO and Chief Investment Officer of Arrow Global Group.
“This is a fragmented market with growing demand for specialist risk solutions, and we believe controlling the value chain enables us to generate attractive returns through a highly consistent and efficient operating network.”
In 2024, as part of the platform, Arrow established a new managing general agent, Toremis Specialty (Toremis) (part of the Legatus Group), to underwrite identified legal and transactional risks.
Halldora Re Ltd supports Toremis’ insurance capabilities. The reinsurer was founded by Arrow in 2025 and is funded by institutional investors and funds managed by Arrow.
AM Best assigned Halldora Re a financial strength rating of A- (Excellent), a long-term issuer credit rating of A- (Excellent), and a stable outlook.
AM Best’s ratings are influenced by Halldora Re’s “very strong” balance sheet strength, conservative investment strategy and limited business risk profile. and an appropriate enterprise risk management framework.
AGI actively seeks products in fragmented markets that are characterized by customized risk analysis, limited competition and limited underwriting capabilities. Arrow’s expertise in complex credit, litigation-related assets and real estate enables it to originate and underwrite these risks and structure solutions with agility and flexibility beyond traditional insurers.
Dan Adams, managing director and head of insurance at Arrow Global Group, added: “The opportunity in specialty insurance lies in embracing complexity. We built the AGI model to do this at scale, combining technology expertise, underwriting agility and institutional capital. Halldora Re’s AM Best rating validates the strength of the platform and supports our ability to grow responsibly with our investors.”
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