Reinsurance News
Arch
Arch Insurance appoints Rich Stock as CUO of casualty and surety
12th December 2022
Arch Insurance has said that Rich Stock has taken on the role of chief underwriting officer for its casualty and surety business. A post from the firm on LinkedIn said that Stock will oversee E&S casualty and alternative markets together with the middle market and large accounts casualty and surety units ... Read the full article
Arch reports reinsurance underwriting loss of nearly $200m
27th October 2022
Bermuda-based carrier Arch Capital Group Ltd. has released its results for the third quarter of 2022, which include an underwriting loss of $196.9 million within its reinsurance segment, largely due to the impact of Hurricane Ian. Ian accounted for the bulk of Arch’s $550.8 million catastrophe bill for the quarter, Read the full article
Arch, RenRe, and SiriusPoint well capitalised, says Fitch
18th August 2022
The re/insurers Arch, RenaissanceRe (RenRe), and SiriusPoint are well capitalised despite varying in financial performance, says a new note from Fitch Ratings. Fitch Ratings said that the combined ratios for RenaissanceRe and SiriusPoint improved in 1H22 following elevated levels over the last several years from heightened catastrophe losses and pandemic claims ... Read the full article
Arch reports net income of $394.2m in Q2 2022
28th July 2022
Arch is reporting in its Q2 2022 results that it saw net income available to Arch common shareholders of $394.2m, alongside after-tax operating income of $506.5m. In addition, the firm said it had seen gross written premiums of $3,869m in Q2 2022, up 17.8% from the same point in 2021. However, ... Read the full article
Arch outlook revised to “stable”
27th June 2022
S&P has revised its outlook on Arch Capital Group Ltd. to “stable” from “negative”. It has also raised long-term issuer credit and financial strength ratings on Arch's US MI companies, and Arch Insurance (EU) Designated Activity Co. to “A+” from “A”. Read the full article
Munich Re backs Amber Group digital asset cover by Arch & OneDegree
21st June 2022
Global digital asset platform Amber Group has secured insurance coverage for its wallet infrastructure from Arch Syndicate 2012 at Lloyd's and insurtech firm OneDegree, which is supported by a multi-year reinsurance partnership with Munich Re. The comprehensive global insurance coverage will protect digital assets held in Amber Group’s wallet infrastructure on ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
Arch Intl. names Patrizia Barattini as Senior Professional Liability Underwriter
20th April 2022
Arch Insurance International has appointed Patrizia Barattini as Senior Professional Liability Underwriter, where she will be responsible for delivering insurance solutions across a broad range of clients and territories. She joins a well-established professional liability team providing global coverage for exposures ranging from large complex risks to smaller accounts. Based in London, ... Read the full article
Arch’s Q3 reinsurance underwriting income falls 807% to $38mn loss
28th October 2021
The reinsurance segment of Arch Capital saw its underwriting income fall 807% to a $38,948 million loss in the third quarter. The segment's combined ratio also rose to 106.2% from 99.0%, reflecting 34.6 points of current year catastrophic activity, primarily related to Hurricane Ida, European floods. Estimated net favourable development of prior ... Read the full article
Arch Insurance names Tom Rivers CRO
11th October 2021
The international insurance arm of Arch Capital Group has announced the appointment of Tom Rivers as Chief Risk Officer, a role he recently held at AXIS Managing Agency. Rivers brings 20 years’ experience to Arch Insurance International, a career that spans enterprise risk management, corporate actuarial and risk management roles. His time ... Read the full article
Arch increases support for Hive Aero
8th October 2021
London-based managing general agent Hive Aero has announced an increased level of support from Arch Insurance (UK) and Arch Insurance (EU) DAC for its underwriting of the Aviation Hull and Liabilities class. As a result, Hive Aero’s Aviation Hull and Liabilities lines will increase respectively to $15 million and $100 million. “The ... Read the full article
Arch Capital closes acquisition of Westpac’s LMI business
1st September 2021
Arch Capital has closed its previously announced acquisition of Westpac Lenders Mortgage Insurance Limited (WLMI), an authorised captive lenders mortgage insurance (LMI) provider to the financial services group Westpac. With this deal finalised Arch intends to proceed by combining the operations of WLMI with its existing Australian LMI company, Arch ... Read the full article
Arch wraps up $622mn Watford acquisition
2nd July 2021
Arch Capital Group has officially wrapped its $622 million acquisition of Watford Holdings, roughly eight months after first signing a merger agreement. Arch and investment partners Kelso and Warburg Pincus pursued the merger agreement through an affiliated entity of which Arch owns approximately 40%, and funds managed by Kelso and Warburg ... Read the full article
Arch Re looks to strengthen UK motor capabilities with acquisition of Somerset
23rd June 2021
Arch Reinsurance Ltd., the specialty property and casualty reinsurance subsidiary of Bermuda-based Arch Capital Group Ltd., is looking to acquire Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset). The proposed transaction, which is subject to regulatory approval, includes Somerset's motor managing general agent, distribution capabilities via direct and ... Read the full article
Arch MI secures over $616mn of indemnity reinsurance via Bellemeade
18th June 2021
Arch MI, the private mortgage insurance subsidiary of Arch Capital, has obtained over $616 million of indemnity reinsurance on a pool representing approximately $36 billion of mortgages from special purpose reinsurer Bellemeade Re 2021-2 Ltd. Approximately $523 million in bonds and $93 million in direct reinsurance was issued in order to ... Read the full article
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