Reinsurance News
Arch
Florida market anticipated to be healthy at upcoming June renewals: Arch CEO
1st May 2024
Commenting on the upcoming June reinsurance renewal in Florida, Marc Grandisson, President, and CEO of Arch Capital Group, expects the state's market to be "well priced" and "very good" on a risk-adjusted basis. As covered by our sister publication Artemis back in April, according to an array of data, Florida ... Read the full article
Arch sees Q1 2024 net income hit $1.1bn, CoR improves to 78.8%
30th April 2024
Arch Capital Group has reported Q1 2024 net income available to its common shareholders of $1.1 billion, marking an increase of $395 million compared to the same quarter of 2023. After-tax operating income in Q1 2024 also improved, reaching $933 million, compared to $654 million in the same quarter of the ... Read the full article
AGCS to focus on U.S. Large Corporate and Specialty insurance with sale of Fireman’s Fund insurance businesses to Arch
9th April 2024
Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s carrier for large corporate and specialty insurance, has announced it is to focus on U.S. Large Corporate and Specialty insurance with the sale of its U.S. MidCorp and Entertainment insurance businesses, to Arch Insurance North America. AGCS has agreed to sell the ... Read the full article
Joe Morello appointed Arch Int. EVP, Head of E&S Property
4th April 2024
Arch Insurance Group Inc., has announced the promotion of Joe Morello to the role of Executive Vice President, Head of E&S Property. Prior to his appointment, Morello, who has over three decades of experience, served as SVP E&S Property at Arch Insurance for over two years. He had joined the company following ... Read the full article
Arch appoints Saul as Deputy MD, names three new Underwriting Managers
3rd April 2024
Arch Insurance (Bermuda) has announced the appointment of Robin Saul as Deputy Managing Director and Legal Counsel, as well three new Underwriting Managers, all with immediate effect. In her new role, Saul will be supporting Matthew Smith, Managing Director of Arch Insurance (Bermuda), in the management of all aspects of the ... Read the full article
Arch Reinsurance Group announces senior promotions naming Halgan President & CUO
13th March 2024
Arch Reinsurance Group has announced the promotion of three senior executives, Jerome Halgan, Vanessa Hardy Pickering and Lester Pun, all effective April 1, 2024. Halgan, who has been with the company since 2009, will be taking over the role of President and Chief Underwriting Officer of Arch Reinsurance Group, in addition ... Read the full article
Arch predicts growth opportunities in property cat amid favourable reinsurance market
21st February 2024
As reinsurance market conditions remain favourable after the 1.1 2024 renewals, Bermuda-based re/insurer Arch Capital is predicting further improvement in its loss ratio as well as growth opportunities in the property catastrophe reinsurance market. Having reported “excellent” financial results in its fourth quarter of 2023, Arch saw an underlying loss ... Read the full article
Arch Australia launches new cyber practice with senior appointment
9th November 2023
Arch Insurance Australia has established a new cyber insurance practice, naming Rachel Green as National Cyber Underwriting Manager for Australia and the Pacific region, effective immediately. According to Arch, the cyber practice will offer excess and primary insurance products spanning cyber, IT liability, and cyber property, "providing comprehensive solutions to brokers ... Read the full article
Arch reports Q3 net income of $713m as reinsurance result soars
31st October 2023
Arch Capital Group has reported net income available to common shareholders of $713 million for Q3 of 2023, a massive increase compared to the $7 million recorded in the same quarter last year, driven by strong growth in the firm's reinsurance segment. Arch's total underwriting income in Q3 was $721 million, ... Read the full article
Arch expands European footprint with two cyber appointments in France
25th October 2023
Arch Insurance has appointed Sergio Pierro as Senior Cyber Underwriter and Roxanne Deslandes as Cyber Underwriter, effective immediately. According to the firm, Pierro and Deslandes will join Arch Insurance (EU) dac, which provides specialist property and casualty insurance solutions within the European Union. Based in Paris, Pierro’s responsibilities are to establish Arch's ... Read the full article
Arch launches proactive cyber insurance solution, Arch CyPro
13th September 2023
Arch Insurance has announced the launch of Arch CyPro, a "pioneering cyber insurance solution designed to proactively safeguard businesses in an environment of rapidly evolving cyber threats." According to the firm, Arch CyPro is powered by the Arch Cyber Risk Engineering Team (ACRE), a specialist cyber team integrated into every stage ... Read the full article
Arch promotes Blois to Underwriting Manager & appoints three PI underwriters
20th July 2023
Arch Insurance’s UK Regional Division has announced the promotion of Kirsty Blois to Underwriting Manager, Miscellaneous and Emerging Professional Indemnity (PI). In the new role, Blois is responsible for managing Arch’s miscellaneous PI book of business and developing its broker relationships. She will report to Martin Joyce, Head of Financial Lines, ... Read the full article
Arch takes minority investment in MGA Helix
12th July 2023
Bermuda-based agency, Helix Underwriting Partners Ltd. has entered into an equity investment agreement under which global insurer Arch Capital Holdings Ltd. has become a minority shareholder. According to the announcement, this transaction further solidifies the strong trading relationship between Helix and Somers Re Ltd., a global specialty property and casualty re/insurance ... Read the full article
Arch doubles reinsurance income in Q1, expands top-line
27th April 2023
Bermuda-based Arch Capital Group has reported significantly improved results for the first quarter of 2023, helped by its reinsurance segment, which saw underwriting income almost double as gross premiums written grew by 43.1%. Overall, Arch’s net income for Q1 was $705 million, compared with just $186 million for the same period ... Read the full article
Arch Insurance acquires insurtech Thimble
11th April 2023
Arch Insurance has expanded its suite of digital solutions with the acquisition of Thimble, an insurtech platform for small business customers and agents. Since May 2018, Thimble has delivered more than 170,000 policies to small businesses across the United States, and works with a variety of carriers including Markel and Employers. Following ... Read the full article
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