Reinsurance News

Arch Re

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 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 Re appoints François Dagneau as CEO of Canada branch

19th June 2017

Arch Reinsurance Company has named François Dagneau as the new Chief Executive Officer of its Canada branch, replacing Patrick McGuiness, who is retiring from the company. Dagneau, who has a 25 year career in the insurance and reinsurance market, joins Arch Re's Canadian operations from reinsurance broker Aon Benfield, where he ... Read the full article

Arch reveals $38m Q2 property facultative reinsurance loss

7th June 2017

Bermudian insurance and reinsurance group Arch Capital Group Ltd. has revealed what it terms as "unusually high" levels of losses in its property facultative reinsurance book during the second-quarter of 2017. The company says that it expects that second quarter 2017 pre-tax underwriting income will experience around a $38 million hit ... Read the full article

Arch Capital board member resigns due to potential conflict of interest

28th February 2017

Arch Capital Group Ltd., the Bermuda based insurance and reinsurance firm, has announced the resignation from its Board of CEO of The Guardian Life Insurance Company of America Deanna Mulligan. Mulligan has taken the step to resign from the Arch Board of Directors due to a "potential future conflict of interest" ... Read the full article

Arch Re forms Arch Underwriters (Gulf) Limited

27th February 2017

Bermuda reinsurance company Arch Reinsurance Ltd. (Arch Re) has announced the formation of Arch Underwriters (Gulf) Limited (AUGL), to supplement its Gulf Re unit in Dubai. Arch Underwriters (Gulf) Limited will, subject to approval, be based in the Dubai International Financial Center (DIFC), UAE, and have underwriting authority for Arch Re. The ... Read the full article

Gulf Re goes into run-off, ratings removed by A.M. Best

2nd February 2017

International rating agency A.M. Best has withdrawn the ratings of Gulf Reinsurance Limited (Gulf Re). The Dubai-based company is in run-off and ceased writing new business from November 1st, 2016. Gulf Re, a subsidiary of Arch Reinsurance Ltd (Arch Re) operated as a specialist reinsurance company, underwriting a portfolio mainly made ... Read the full article