Arch Capital
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A re-focus on reinsurance nearly brings Everest back where it started. -
Despite the pricing pressure, margins for the line of business remain attractive, he added.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Reinsurers are mostly aligned on cat reinsurance, but goals are otherwise diverse.
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The Bermudian said its pursuit of SMEs through M&A will provide sustainable improvements to its bottom line.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The appointments will be effective as of August 1.
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The unit will include both ocean and inland marine coverage.
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Ed Short was previously VP, digital partners, at Arch.
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Sources said MarshBerry was retained earlier this year to run the sale.
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The days of 30%+ growth are probably behind the firm, he said.
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Overall, the company’s underwriting income fell 43% to $417mn in the first quarter.
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GAAP reserve triangles reveal the struggles of some hybrid franchises.
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The company, meanwhile, is bullish on E&S US casualty.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Robin Hamilton has been appointed head of energy and marine liability.
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New CEO Williamson will likely continue walking the hybrid path, with an emphasis on fixing US casualty.
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Tim Watson most recently served as a senior credit and political risk underwriter.
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Jelle Ouwehand joined Arch from Marsh, where he was a senior terrorism, PV and war broker.
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A signal around Q4 adverse development has brought the carrier into the spotlight.
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Both appointments are effective immediately.
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Arch stands out among hybrids, but Axis and Everest grind it out.
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Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Grandisson's sudden retirement could mean a complicated future for Arch.
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The chief executive will also receive a yearly bonus of 200% of base salary.
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Arch announced the retirement of CEO Marc Grandisson on Monday, with immediate effect.
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The executive has been group CUO since 2021.
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He replaces Richard Goldfarb, who will remain as head of strategy.
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The carrier writes all of its E&S business in the state through Arch Specialty Insurance Company.
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A quick round-up of today’s need-to-know news, including Ryan Specialty and Skyward Specialty.
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Mark Lange, chief middle-market executive, will oversee the new businesses.
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The slowdown was based on a conviction of “higher likelihood of frequency events” this year.
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A quick roundup of today’s need-to-know news, including AIG's earnings.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Both parties expect to close the transaction on August 1, 2024.
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Investor skepticism visible in stock prices and short interest data over first half of 2024.
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A standalone syndicate could offer capital, trading, and licensing advantages.
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Industry trends show the Axis book value growth goal may be hard to hit.
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
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Strack has worked at Arch for close to four years.
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There was no material development on long-tail casualty lines across all years, he said.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Kirsten Valder has been with Arch for 10 years and before then was a partner at Kennedys Law.
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Will Arch’s new acquisition be another success story, or more trouble than it’s worth?
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The deal includes an LPT of ~$2bn loss reserves for 2016-2023 years with Arch Re.
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Doppstadt and Paglia have served on the board for 14 and 10 years, respectively.
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Joe Morrello joined the firm in 2022 after serving as E&S property head at Beazley.
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Vanessa Hardy Pickering and Lester Pun have also been promoted.
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CEO Grandisson described Arch as "bullish" in its prospects for 2024.
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Given a number of complexities, the landing zone on a take-out price is small.
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Earlier in the process, sources linked Sentry Insurance with a bid for the E&S insurer.
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With mixed results in the reinsurance space, the specialty pivot remains a "show-me" story.
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Axis’s reserve cleanup removes longstanding overhang and narrows the credibility gap.
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Participating in the funding round were Caffeinated Capital, Altai Ventures, Zigg Capital, 8VC, Buckley Ventures, Habitat Partners and Arch Capital.
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The deal follows this publication’s report that the Bank of America-run sale process of Castel was drawing robust interest.
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Ratings could be lowered by one notch depending on regulatory restrictions on cash flow from Bermuda operating entities to non-operating holding companies, the ratings agency said.
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The consideration is expected to be around $140mn plus a $25mn dividend.
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The five-person underwriting team will be led by Ian Lewis, who has been named head of intangible assets.
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The executive noted “increasing evidence [that] casualty rates widely underpriced and oversold during the last soft market need to increase.”
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The Inside P&C news team runs you through the earnings results for the day.
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The executive will oversee all aspects of managing direct insurance operations at the business.
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Patin will oversee Somers’ overall investment strategy and direct its investment managers.
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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.
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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.
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Differences in reinsurer strategies and risk management lead to differentiation in stock multiples and long-term value creation.
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CFO Morin said Arch was able to deploy more capacity, resulting in a significant premium growth for property lines.
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Sources suggest that, based on a multiple of 15x-17x Ebitda, the business could be valued at £300mn-£375mn.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The executive, based in Morristown, New Jersey, will be responsible for the company’s US reinsurance operations.
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Under terms of the partnership, Arch Capital has acquired a minority stake in the Bermuda-based MGA.
