The North American operations of Arch Insurance is set to acquire technology and analytics-focused managing general underwriter, Ventus Risk Management.
Ventus was founded in 2016 and specialises in providing coastal commercial property insurance solutions to small and mid-sized enterprises.
Arch Insurance North America plans to integrate Ventus into its platform, enabling third-party capital to provide capacity alongside Arch’s product offerings.
“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,” said Matt Shulman, Chief Executive Officer of Arch Insurance North America.
“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.”
Ventus’ leaders see the deal as beneficial to its employees, brokers, customers and carrier partners.
“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,” explained George Reeth, a Ventus co-founder who has announced his retirement with the sale of the company.
Co-founder Stuart Mercer, who will become the Chief Financial Officer of Ventus following the sale, 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.”