Specialty insurer and part of Arch Capital Group, Arch Insurance (Bermuda), has announced the appointment of Matthew Smith as Managing Director, following the retirement of Tony Hay at the end of this year.
Effective January 1st, 2024, Smith will report to Mike Lay, Chief Underwriting Officer (CUO) for Long Tail Lines at Arch Insurance International.
Hugh Sturgess, Chief Executive Officer (CEO), Arch Insurance International, commented: “I am delighted to announce Matt’s appointment. The fact that we are able to promote from within for this top position speaks to the calibre and depth of our Bermuda team.
“Bermuda is a core market for Arch, and we have invested heavily in our talent base in order to become one of the leading insurance companies on the island.”
In this role, Smith’s remit will include being responsible for managing all aspects of the company’s direct insurance operations.
Smith is a company veteran, he joined the Arch team in Bermuda in 2002.
Currently, he serves as the Senior Vice President (SVP) and Underwriting Manager for Executive Assurance, a position he has held since 2011.
Prior to this, he was a Senior Professional Liability Underwriter at global insurer Chubb.
Hay commented on his appointment: “Matt is an exceptional underwriter and someone who truly embodies the values and principles that underpin Arch’s culture and our commitment to brokers.
“He has spearheaded the development of our Executive Assurance practice and been central to our overall market success. I have no doubt that Matt will be a great success and will continue to develop the trusting and responsive relationships with our brokers that are the mainstay of how we do business.”
