Arch Capital

Penberthy joined Arch in 2022 and became CFO of the UK operations in December 2023.

The slowdown was based on a conviction of “higher likelihood of frequency events” this year.

The reinsurance segment LR reflected 10 points of cat activity, up YoY from 6.7.

Both parties expect to close the transaction on 1 August 2024.

Arch, Axa XL, Beazley, Chubb, Hiscox, Howden, MS Amlin and TMK are participating.

While Arch is looking into using AI and robotics to streamline claims, an important focus remains on diversity to build a strong claims culture, said Barbara Rizzi, Chief Claims Officer for Arch Insurance International.

The underwriting head has worked in the London market for 25 years.

Roberto Tous joins from Zurich, where he was head of financial lines for the Benelux.

Constantine 'Dinos' Iordanou served as CEO at Arch Capital Group for 17 years.

A standalone syndicate could offer capital, trading, and licensing advantages.

Motwani will be responsible for overseeing key UK functions.

There was no material development on long-tail casualty lines across all years, he said.