Reinsurance News

Arch Capital Group

Arch MI platform integrated into Mortgage Cadence’s Lending Center

23rd August 2018

Arch Mortgage Insurance Company (Arch MI) has announced that Mortgage Cadence, an Accenture Company, has integrated Arch MI’s mortgage insurance platform into the Mortgage Cadence Enterprise Lending Center (ELC). Mortgage Cadence said its ELC facilitates lending in all forward and reverse mortgage channels and across all mortgage products, including home equity, ... Read the full article

Arch Capital secures $653mn of mortgage reinsurance from capital markets

22nd August 2018

Arch Mortgage Insurance Company (Arch MI), the U.S mortgage insurance arm of Arch Capital Group, has secured $653.3 million of indemnity reinsurance from the capital markets via an insurance-linked securities (ILS) transaction with Bellemeade Re 2018-2 Ltd., a special purpose insurer. The reinsurance relates to a portfolio of mortgage insurance policies ... Read the full article

Arch Capital provides underwriting capacity to insurtech MGA C-Quence

2nd August 2018

Bermuda-based re/insurance firm, Arch Capital, is to provide underwriting capacity to C-Quence, a new insurtech MGA founded in 2017. Long-term financial backing has been provided by investment holding company Primary Group. “Our ambition is to transform mid-market commercial insurance provision in our target markets of the UK and Ireland by radically improving broker and ... Read the full article

Arch Capital to open operational hub in North Carolina

25th July 2018

Arch Capital Group Ltd. (ACGL), the Bermuda based insurance and reinsurance firm, has revealed plans to invest $12.9 million in the launch of a new operational hub in Raleigh, North Carolina. Arch currently employs approximately 575 people in the state, and the new hub is set to create an additional 365 ... Read the full article

Arch to expand Irish operations in preparation for Brexit

7th June 2018

Arch Capital Group has revealed that it plans to expand its underwriting operations in Ireland to ensure continuity following the UK’s scheduled departure from the European Union (EU) in March 2019. The group has applied for regulatory approval from the Central Bank of Ireland to allow its UK insurer, Arch Insurance ... Read the full article

Arch appoints François Morin as new CFO

15th May 2018

Arch Capital Group has announced the appointment of François Morin as Executive Vice President and Chief Financial Officer (CFO), effective May 25. He will succeed Mark Lyons, who is leaving Arch to become Senior Vice President and Chief Actuary, General Insurance at AIG, as we reported earlier. Morin has been with ... Read the full article

Weak pricing outlook for mid-year renewals, says Arch CEO

9th May 2018

Marc Grandisson, President and Chief Executive Officer (CEO) of Arch Capital Group, has predicted that pricing trends at the mid-year renewals are likely to remain flat or even decrease, largely due to industry posturing. Speaking during the company's Q1 2018 earnings call, Grandisson explained that at the recent April 1 renewals ... Read the full article

Arch offers mortgage credit assessment services to Munich Re

25th April 2018

Arch Credit Risk Services, a unit of Arch Capital Group, has agreed to provide Munich Re with mortgage credit assessment and underwriting advisory services on a multi-year basis. The services provided by Arch will relate to Munich Re’s involvement in Credit Risk Transfer programs offered by U.S state-sponsored loan companies The ... Read the full article

Catalina reinsures U.S. P&C legacy portfolio for Arch

24th April 2018

Bermuda domiciled insurer and reinsurer, Arch Reinsurance Ltd. (Arch) has entered into a reinsurance transaction with Catalina Holdings (Bermuda) Ltd subsidiary, Catalina General Insurance Ltd (Catalina), which sees the latter assume a portfolio of U.S. property & casualty (P&C) liabilities in run-off from Arch. The U.S. P&C legacy portfolio assumed by ... Read the full article

Arch obtains $375mn of mortgage reinsurance from capital markets

20th April 2018

Arch Mortgage Insurance Company (Arch MI), a subsidiary of Bermudian insurance and reinsurance group Arch Capital, has secured $374.46 million of indemnity reinsurance from the capital markets through Bellemeade Re 2018-1 Ltd., a special purpose insurer (SPI). The reinsurance protection provides Arch MI with fully collateralised coverage for a portfolio of mortgage ... Read the full article

Capsicum Re selected as reinsurance broker for Arch’s mortgage pilot

20th March 2018

Capsicum Re has confirmed its role as reinsurance broker working with Arch Capital Group's new Washington D.C. based subsidiary, Arch MRT on the new mortgage credit risk transfer program Integrated Mortgage Insurance, IMAGIN. Led by Steven Rance, Capsicum Re's mortgage indemnity division and Arch have assembled the panel of re/insurers that will ... Read the full article

Arch Capital promotes Marc Grandisson to President & CEO

19th March 2018

Bermudian reinsurer Arch Capital Group (ACGL) has promoted Marc Grandisson to President & Chief Executive Officer (CEO), and to AGCL's Board of Directors with effect from March 3rd, 2018. Grandisson was promoted from a position as President and Chief Operating Officer (COO) of ACGL, which he had taken up on January ... Read the full article

Arch sets up subsidiary to channel Freddie Mac mortgage risk to reinsurers

14th March 2018

Arch Capital Group Ltd. has announced that a newly established U.S subsidiary, Arch MRT, will be piloting a new mortgage credit risk transfer program, called Integrated Mortgage Insurance (IMAGIN), in conjunction with the Federal Home Loan Mortgage Corporation (Freddie Mac). The arrangement will see Arch underwriting risks from Freddie Mac and ... Read the full article

Arch Capital reveals $60-75mn Q4 catastrophe loss impact

10th January 2018

Arch Capital Group has released an estimated $60 to $75 million impact from the California wildfires and other catastrophes to Q4 results and an additional estimated $15 to $20 million charge on net deferred tax assets related to the impact of lower U.S. corporate tax rates beginning in 2018. The estimated losses ... Read the full article

Kewsong Lee to resign from Arch Capital

7th November 2017

Kewsong Lee has resigned from Arch Capital Group's Board of Directors following his promotion at Carlyle Group LP to co-CEO, with effect from January 1st, 2018. Constantine (Dinos) Iordanou, Chairman and CEO of ACGL, said; “we thank Kewsong for his outstanding service to the Company. "He has been a director since our ... Read the full article

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