Arch Capital

Liz Cunningham, Watford’s chief risk officer, has been named its new CEO, as the company said that ratings agency AM Best had affirmed the outlook on its A- FSR to "stable".

Reinsurers take stock of a changing catastrophe landscape and plot contradictory courses.

The CEO said his company is ‘convinced’ the firming cycle has legs, while also acknowledging the company “relied heavily” on its mortgage unit when returns in P&C were less attractive.

Underwriting profits soared by 66% to $174mn, with a $234mn underwriting gain in mortgage outweighing losses in insurance and reinsurance.

The (re)insurer pegged industry losses from Ida at $30bn and increased its share buyback program to $1.5bn.

The cat market has a problem with sustained underperformance which, particularly following the ESG Awakening, could attract negative boardroom attention.

The Inside P&C Select Index outperformed the S&P 500 (5.7% to 2.9%) in August, despite Hurricane Ida making landfall.

Ebong has worked at Apple and Facebook, while Mallesch was P&C CFO for Nationwide.

Good news may be temporary, no matter how good it is.

“I think it's fair to say that the market momentum is clearly there,” Grandisson said on Thursday.

The insurance division added almost $300mn in premium in the quarter, while volumes in reinsurance were higher by $360mn.

Arch Insurance group plucks Star Indemnity cyber chief Shiraz Saeed as its new cyber product manager.