Arch Capital
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The appointment comes after Sarah McGurk resigned to join Aviva.
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Lisa Packard, a long-time Arch facultative executive, has also been named chief strategy officer for the US reinsurance division.
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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".
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Underwriting profits soared by 66% to $174mn, with a $234mn underwriting gain in mortgage outweighing losses in insurance and reinsurance.
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The coverholder has also expanded its product offering and now underwrites marina business.
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The (re)insurer pegged industry losses from Ida at $30bn and increased its share buyback program to $1.5bn.
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The cat market has a problem with sustained underperformance which, particularly following the ESG Awakening, could attract negative boardroom attention.
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Ebong has worked at Apple and Facebook, while Mallesch was P&C CFO for Nationwide.
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The insurance division added almost $300mn in premium in the quarter, while volumes in reinsurance were higher by $360mn.
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The investment expert has worked for Amundi, Standish Mellon, and Gannett, Welsh & Kotler.
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Arch CEO Marc Grandisson has said he is “not losing sleep” over the prospect of new (re)insurance startups snuffing out the hard market.
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Arch’s combined ratio improved by 1.2 points to 89.2% and company weathered winter storms to produce an underwriting profit just shy of $200mn.
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