Arch Capital
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The firm reported earnings per share of $0.46, a beat against consensus estimates of $0.38.
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Bermudian total return reinsurer reignites market flotation plan.
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Over 90 percent of stocks in the I50 posted gains last week.
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Former head of property David Slade becomes deputy active underwriter in the restructure.
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The Insider 50 closed at 1,023.07 points on Friday, rising 1.4 percent in the first full trading week of 2019.
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Arch updated its Q4 cat estimate to $110mn to $130mn, inclusive of its prior $40mn to $60mn Michael loss. -
Expectations of rate rises and outsized catastrophe losses resulted in a subdued annual performance for the composite index.
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The £31mn deal includes MGA Geo Underwriting.
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About four-fifths of stocks in the index decline and none manages gains of more than 1 percent.
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Michael Price joins after over nine years at Arch.
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Watson becomes class underwriter for property treaty.
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He succeeds Matt Shulman, who was named CEO of Arch Insurance North America last month.
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