Arrow Global Group (Arrow), a pan-European investment manager specialising in private credit and real estate, has launched Arrow Global Insurance (AGI), a strategic extension of its existing investment platform 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 is focused exclusively on specialist, non-catastrophe insurance lines where outcomes depend on deep analysis, bespoke risk assessment, and disciplined capital allocation. It does not operate in climate, life, or consumer insurance markets, explained Arrow.
AGI focuses on property, casualty and specialty insurance, initially including after-the-event insurance, contingent and transactional risks, credit risks and surety products.
Arrow believes that these lines support complex legal and financial activities, underserved by traditional insurers and are increasingly relevant to corporate and private capital participants.
AGI aims to bring together origination, underwriting and investment within a single, integrated structure. By controlling key elements of the insurance value chain, including underwriting and risk-bearing capital at scale, Arrow aims to establish multiple sources of return.
These include underwriting margin, fee income and investment returns on insurance premiums, thereby creating a scalable, capital-efficient opportunity set for its investors, supported by substantial institutional capital from inception.
Zach Lewy, Chief Executive Officer and Chief Investment Officer, Arrow Global Group, said, “Arrow Global Insurance provides opportunities for our investors to access the global specialty insurance market by utilising Arrow’s expertise.
“This is a fragmented market with growing demand for specialist risk solutions, and we believe that controlling the value chain allows us to generate attractive returns through a highly aligned and efficient operating network.”
In 2024, as part of the platform, Arrow founded a new managing general agent, Toremis Specialty (Toremis), part of Legatus Group, to underwrite identified legal and transactional risks.
Halldora Re Ltd supports Toremis’ insurance capacity. The reinsurer was founded in 2025 by Arrow and capitalised by institutional investors and funds managed by Arrow.
AM Best has assigned Halldora Re, a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- (Excellent), with a stable outlook.
AM Best’s ratings were influenced by Halldora Re’s “very strong” balance sheet strength, conservative investment strategy, limited business risk profile. and an appropriate enterprise risk management framework.
AGI actively looks for products in fragmented markets characterised by bespoke risk analysis, limited competition, and constrained underwriting capacity. Arrow’s expertise in complex credit, litigation-related assets and real estate allows it to originate and underwrite these risks and structure solutions with agility and flexibility often beyond that of 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 have built the AGI model to do this at scale, combining technical expertise, underwriting agility and institutional capital. The AM Best rating for Halldora Re validates the strength of the platform and supports our ability to grow responsibly alongside our investors.”
