Arch Capital

The reinsurance segment reported a 39.7-point improvement in its CoR to 80% in Q3 2023, along with 30.4% top-line growth to $2.1bn.

Pierro will be responsible for establishing operations in France and growing the company’s European cyber insurance portfolio.

Jose Carlos Jiménez Fernández and Rafael Ortiz Losada have joined the company as senior underwriters.

The executive will oversee all aspects of managing direct insurance operations at the business.

The executive has spent 20 years at the company and five at the helm.

Arch Re CEO Maamoun Rajeh says renewals need to be more like performance reviews: telegraphed with no surprises, as there is no upside to late games of “chicken”.

In addition, Arch Re global CUO Pierre Jal moved to Zurich to take over as Europe CUO, while president Matthew Dragonetti expanded his scope to lead client-centric initiatives.

CFO Morin said Arch was able to deploy more capacity, resulting in a significant premium growth for property lines.

Sources suggest that, based on a multiple of 15x-17x Ebitda, the business could be valued at £300mn-£375mn.

The expansion came in tandem with a 3.5-point improvement in the segment’s combined ratio, to 81.9%.

The executive, based in Morristown, New Jersey, will be responsible for the company’s US reinsurance operations.

Blois will be responsible for managing the carrier's miscellaneous PI book of business.