Arch Capital
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The syndicate joins a growing list of carriers to exit the challenged line of business.
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Geo Underwriting's commercial lines businesses move over to Arch Insurance Europe.
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The insurer’s earnings were buoyed by good results within its reinsurance and mortgage segments.
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The agreement with ING marks a departure for an Arch unit mainly focused on the US mortgage insurance market.
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This is the third time Arch has sought cover for its mortgage book via an ILS deal in 2018.
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Shulman will oversee operations in the United States and Canada as part of organizational restructuring.
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The Insider 50 fell by 5.2 percent last week amid a wider sell-off prompted by US interest rate worries.
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The ratings agency also said it affirmed Arch Reinsurance’s financial strength rating (FSR) of A+, or Superior.
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The industry’s ranks are being thinned by inexorable forces of change, Arch CEO says.
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Barbican and AmTrust have now both launched formal processes to secure a reinsurance-to-close transaction.
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She will oversee the Bermuda-based reinsurer’s E&S property and US retail property divisions.
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Mark Lange will follow Bill Casey in North America strategy and distribution role.
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