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30 January 2023Analysis

Arsenal files for bankruptcy

Arsenal Intermediate Holdings, along with Arsenal Insurance Management and Arsenal Health, has filed for chapter 11 bankruptcy in Delaware.

Founded in 2006 as an independent captive and alternative risk transfer manager, it is headquartered in Alabama and has offices in Georgia, Florida, Tennessee, Texas, and Vermont, as well as a strategic partnership in Grand Cayman.

It will now seek to sell its assets through the bankruptcy process, with parent BR Intermediate Holdings providing debtor-in-possession financing to support the sale.

Both chief operating officer Justin Law and the former chief admin officer Przemek Parkitny have left the company in recent months.