Arch Capital
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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. -
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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The carrier joins peers including Tokio Marine Kiln, MS Amlin and Brit.
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Around 80% of the losses are expected from the reinsurance business.
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The acquisition adds to Arch’s mortgage insurance operations in Bermuda, Europe and the US.
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IGI is set to launch into the contingency market and has appointed underwriter Emily Clapham to lead the entry into the class, Insurance Insider can reveal.
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The newcomer most recently led Marsh’s property team in Asia, and has also worked at Newline and Cooper Gay.
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The CEO said his company would be going on offense to accelerate book value growth while strong market conditions lasted.
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The reinsurer completes its EUR453mn deal for 29.5% stake in French trade credit carrier.
