Arrow Global Launches Specialty Insurance Vertical, AGI
LONDON, March 25, 2026 – Arrow Global Group, a pan-European investment manager specializing in private credit and real estate, today announced the launch of Arrow Global Insurance (AGI), a new business line focused on institutional investment opportunities within the insurance value chain.1
AGI will operate as a strategic extension of Arrow’s existing investment platform, leveraging the Group’s underwriting, structuring, and capital management expertise in the insurance market. The platform will concentrate exclusively on specialized, non-catastrophe insurance lines, prioritizing deep analysis, bespoke risk assessment, and disciplined capital allocation.2 Arrow will not participate in climate, life, or consumer insurance markets.
Integrated Structure for Enhanced Returns
AGI integrates origination, underwriting, and investment into a single structure. By controlling key elements of the insurance value chain, including underwriting and risk-bearing capital, Arrow aims to capture multiple return sources: underwriting margin, fee income, and investment returns on insurance premiums. This approach is designed to create a scalable and capital-efficient opportunity for investors, supported by substantial institutional capital from inception.1
Focus Areas and Capacity
AGI will initially focus on property, casualty, and specialty insurance, including after-the-event insurance, contingent and transactional risks, credit risks, and surety products.2
To support this initiative, Arrow established Toremis Specialty, a Managing General Agent (MGA) under Legatus Group, in 2024 to underwrite specific legal and transactional risks. Insurance capacity for Toremis is provided by Halldora Re Ltd, a reinsurer founded by Arrow in 2025 and capitalized by institutional investors and funds managed by Arrow.1 Halldora Re has received an A- (Excellent) Financial Strength Rating and a Long-Term Issuer Credit Rating of a- (Excellent) with a stable outlook from AM Best, validating the platform’s robustness.1
Strategic Rationale and Leadership
AGI targets fragmented markets characterized by tailored risk analysis, limited competition, and limited underwriting capacity. Arrow’s experience in complex loans, litigation assets, and real estate positions it to assume these risks and structure flexible solutions compared to traditional insurers. This strategy aims to deliver attractive margins and returns on equity, providing investors with differentiated return streams largely uncorrelated with traditional credit and equity markets.
Zach Lewy, Chief Executive Officer and Chief Investment Officer of Arrow Global Group, stated: “Arrow Global Insurance offers our investors the opportunity to gain access to the global specialty insurance market by leveraging Arrow’s expertise. This is a fragmented market with growing demand for specialized risk solutions and we believe that control of the value chain allows us to generate attractive returns through a highly aligned and efficient operational network.”1
Dan Adams, Managing Director and Head of Insurance at Arrow Global Group, added: “The opportunity in specialty insurance lies in embracing complexity. We developed the AGI model to do this at scale by combining technical expertise, underwriting flexibility 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.”1
About Arrow Global Group
Founded in 2005, Arrow Global is a leading European alternative asset manager with a vertically integrated private credit and real estate investment model. The company manages approximately €125 billion in assets for third parties and has a track record of over €14 billion in returns over the past 20 years.2 Arrow operates across Western Europe and is headquartered in London, with offices in major financial centers including Paris, Milan, Madrid, Berlin, Amsterdam, Dublin, Luxembourg, and Lisbon.
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