Reinsurance News
Arch
Upcoming quarters to show improved underwriting margins: Grandisson, Arch
19th May 2021
Arch Capital Group should expect the next several quarters to continue to show improved underwriting margins, according to Bermuda-based insurer and reinsurer Arch's Marc Grandisson, Chief Executive Officer and Director. At Arch's Q1 2021 earnings call Grandisson noted that it is partially due to the compounding of rate-on-rate increases and the ... Read the full article
Arch reports higher Q1 underwriting gain despite reinsurance segment loss
28th April 2021
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has reported net income of $427.8 million for the first-quarter of 2021, as underwriting gains in both its Insurance and Mortgage segments more than offset a loss in the firm's Reinsurance operation during the period. Year-on-year, net income increased by approximately $294 million ... Read the full article
Arch’s UK regional division announces two key senior promotions
20th April 2021
The UK regional division of Arch Insurance has promoted Vicky Rowlay to National Director - Business Transformation and Neil Peters to National Director - Branch Network, with immediate effect. Rowlay is set to focus on developing and implementing key business strategies as well as assuming responsibility for the company’s Regional Trading ... Read the full article
Arch Insurance adds Craig Cafferty to Property team in London
11th February 2021
Arch Insurance International, part of Arch Capital Group Ltd., has announced the appointment of Craig Cafferty as a Senior Underwriter, Property, effective immediately. In his new role, Cafferty will work with existing clients across the portfolio as well as exploring new opportunities, adding further drive to the firm's strong growth in ... Read the full article
Arch acquires majority stake in Coface
11th February 2021
Arch Capital Group's share purchase agreement with Natixis for a majority stake in France-based trade-credit insurance firm, Coface, has received all necessary approvals for its closing, triggering the appointment of Bernardo Sanchez Incera as Chairman of the Board of Directors. It was announced in February of last year that Bermuda headquartered ... Read the full article
Ascot names Arch’s Kramer CEO of US Insurance
12th January 2021
Bermuda-domiciled specialty re/insurer Ascot has announced the appointment of Matthew Kramer as Chief Executive Officer of US Insurance. Kramer will be based in the company’s New York City office and lead all facets of Ascot’s US insurance operations. He will have direct responsibility for underwriting performance, new product development, and oversight of the ... Read the full article
Gallagher Re secures $140mn of traditional reinsurance for Arch
11th January 2021
Reinsurance broker Gallagher Re has helped Arch Mortgage Insurance Company (Arch MI) secure $15.6 million of indemnity reinsurance in what is the fourth and final Bellemeade Re 2020 transaction. Over the course of the four transactions Gallagher Re helped Arch MI obtain $140 million in traditional reinsurance capacity. This latest deal covers ... Read the full article
Arch hires Tim Watson as Senior Underwriter
6th January 2021
Arch Insurance International, part of Arch Capital Group, has appointed Tim Watson as Senior Underwriter, Credit and Political Risk. He is set to join the company in mid-2021 and will be based in London. Watson will report to Ed Cornish, Head of Credit & Political Risk and will be responsible for underwriting ... Read the full article
Arch approved for Part VII transfer ahead of Brexit
22nd December 2020
Arch Insurance (UK) Limited has received approval for a Part VII transfer of insurance business conducted in any state within the European Economic Area (EEA). By transferring business carried out by Arch Insurance (UK), excluding inwards reinsurance business, to Arch Insurance EU in Ireland, the company hopes to ensure continuity of ... Read the full article
Arch’s reinsurance business recovers in Q3 despite high cat losses
30th October 2020
Bermuda-based re/insurer Arch Capital Group has announced a mild improvement in net income over the third quarter of 2020, helped by a recovery in its reinsurance business. Net income totaled $408.6 million in Q3, up from $382.1 million in for the same period in 2019. The result was helped by $5.5 million ... Read the full article
Enstar’s latest Watford bid could lead to a “Superior Proposal”
20th October 2020
The unsolicited, non-binding proposal from Enstar Group Limited to acquire the common shares of Watford Holdings Ltd. could reasonably be expected to lead to a "Superior Proposal" as defined in Watford's merger agreement with Arch Capital Group Ltd., according to the firm's Board of Directors. On October 15th, legacy acquirer ... Read the full article
Arch to buy Watford Re in $622mn deal
9th October 2020
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has entered into a definitive agreement to acquire all the common shares of total return reinsurer, Watford Holdings Ltd., in an all-cash transaction valued at roughly $622 million. The deal is expected to close in the first-quarter of next year, following which, Watford ... Read the full article
Arch’s Lloyd’s Syndicate 2012 leads $100mn Crypto.com policy
12th May 2020
Arch Underwriting at Lloyd's Syndicate 2012 has helped provide a $100 million direct insurance policy to Crypto.com, a cryptocurrency finance platform formed in 2016. This is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault. The new policy brings Crypto.com's total cryptocurrency insurance to ... Read the full article
Arch promotes Prashant Nema to Chief Information Officer
27th January 2020
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has announced the promotion of Prashant Nema to Group Chief Information Officer (CIO). Most recently, Nema served as Senior Vice President (SVP), Divisional CIO for Insurance and U.S. Mortgage Insurance at Arch, and has been with the firm since October of 2015. Prior to ... Read the full article
Arch promotes Chris Hovey to COO
15th January 2020
Arch Capital Group Ltd. has announced that Chris Hovey, previously Executive Vice President (EVP), Chief Information Officer (CIO) at Arch Capital Services Inc., has been promoted to Chief Operations Officer (COO), Arch. Hovey has been with Arch since January 2014, initially serving as COO of Arch Mortgage Insurance Company through to ... Read the full article
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