Arch Capital

The executive noted “increasing evidence [that] casualty rates widely underpriced and oversold during the last soft market need to increase.”

The Inside P&C news team runs you through the earnings results for the day.

The executive will oversee all aspects of managing direct insurance operations at the business.

Patin will oversee Somers’ overall investment strategy and direct its investment managers.

In addition, Arch Re global CUO Pierre Jal moved to Zurich to take over as Europe CUO, while president Matthew Dragonetti expanded his scope to lead client-centric initiatives.

A 15% tax is in the works, but appears manageable, and with (re)insurance being Bermuda’s largest industry, the territory will take steps to keep companies where they are.

Differences in reinsurer strategies and risk management lead to differentiation in stock multiples and long-term value creation.

CFO Morin said Arch was able to deploy more capacity, resulting in a significant premium growth for property lines.

Sources suggest that, based on a multiple of 15x-17x Ebitda, the business could be valued at £300mn-£375mn.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The executive, based in Morristown, New Jersey, will be responsible for the company’s US reinsurance operations.

Under terms of the partnership, Arch Capital has acquired a minority stake in the Bermuda-based MGA.