Amphitrite adds $40 million of capacity to marine war offering

By Rebecca Delaney

April 23 - (The Insurer) - MGA Amphitrite Underwriting has expanded its marine war offering with an additional $40 million of Lloyd’s capacity.

Amphitrite said the additional capacity provides brokers and clients with increased options at a time when interest in marine war cover is "dramatically increasing" due to the complex geopolitical landscape.

Amphitrite's marine war class is led by Ben Jones, who has been with the MGA since 2020.

Coverage includes physical loss or damage to the vessel caused by a war peril, loss of hire/earnings as a result of a war peril, and drugs seizure cover for innocent owners and operators.

In December 2024, Amphitrite secured underwriting capacity of $25 million for its marine cargo division, effective from January 1, 2025.

Amphitrite launched its marine cargo division in June last year with former Convex and Argenta underwriter Scott Sykes appointed as its head.

Amphitrite received full authorisation from the UK’s Financial Conduct Authority in February 2024 and was approved as a Lloyd’s coverholder in September of the same year.

The MGA was co-founded by former Tokio Marine Kiln duo Dan Boutcher and Des Keane. Its underwriting and claims functions are led by Konstantinos Tampakakis and Gary Dearman, respectively. Amphitrite entered the marine hull market at the beginning of 2023.