Reinsurance News

Arch Capital Group

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

Rates need to reflect changing risk perception, suggests industry execs

3rd November 2017

The pricing of catastrophe risks in the insurance and reinsurance sector needs to reflect the increased severity and frequency of events, and the extremely costly third-quarter could lead to a change in risk perception, according to industry executives. Historically, the occurrence of significant price increases across the reinsurance market happens at ... Read the full article

Arch secures $368mn of mortgage reinsurance through new ILS transaction

26th October 2017

Arch Capital Group's mortgage insurance (MI) business has secured $368 million of indemnity reinsurance protection via the capital markets from Bellemeade Re 2017-1 Ltd., a special purpose insurance vehicle. The latest issuance under the Bellemeade Re vehicle is the largest yet and a first for Arch's Mortgage Group, and is ... Read the full article

Arch estimates Q3 catastrophe losses of up to $345 million

13th October 2017

For the third-quarter of 2017, Arch Capital Group Ltd. has provided an estimated loss of between $285 million and $345 million from catastrophe events, which includes the Mexico earthquakes, and Hurricanes Harvey, Irma, and Maria. The firm's estimate is based on a total re/insurance industry loss for the quarter of between ... Read the full article

Arch announces series of senior reinsurance executive promotions

11th October 2017

Arch Capital has announced a string of promotions of senior executives within its Worldwide Reinsurance Group management. Arch Reinsurance Company President and Chief Executive Officer in the U.S. Jerome Halgan has been promoted to the role of Chief Executive Officer of Arch Reinsurance in Bermuda. Matt Dragonetti, currently Head of Property at ... Read the full article

Arch Capital appoints new insurance & reinsurance CEOs

20th September 2017

Arch Capital Group Ltd. has named Maamoun Rajeh Chairman and Chief Executive Officer (CEO) of Arch Worldwide Reinsurance Group, and Nicolas Papadopoulo as Chairman and CEO of Arch Worldwide Insurance Group and Chief Underwriting Officer (CUO) for Property & Casualty Operations. Rajeh joined Arch in 2001 and currently serves as President ... Read the full article

Arch gets negative outlook from A.M. Best on United Guaranty risks

31st August 2017

Bermudian insurance and reinsurance firm Arch Capital Group Ltd. and its Arch Reinsurance Ltd. subsidiary have both had negative outlooks assigned to their credit ratings by A.M. Best. The negative outlooks are due to A.M. Best's view that Arch has experienced a "significant increase in financial leverage" due to the issuance ... Read the full article

Arch completes AIG United Guaranty Insurance (Asia) takeover

5th July 2017

Arch Capital Group Ltd. has now announced that on July 1st, 2017, it completed its acquisition of American International Group, Inc.'s (AIG) subsidiary, AIG United Guaranty Insurance (Asia) Limited. Arch has said that it plans to immediately change the company name to Arch MI Asia Limited (Arch MI Asia), and that Tak ... Read the full article

Arch Insurance grows Travel business division with new hires

30th June 2017

Insurance and reinsurance provider, Arch Capital Group Ltd.'s subsidiary, Arch Insurance Group, Inc., has bolstered its Travel business division with a number of new appointments, effective June 5th, 2017. Both Cory Sobczyk and Dan Povondra have joined Arch as Vice Presidents of Business Development, while Lynn Barty has joined the firm ... Read the full article