Arch Capital

Enstar is conducting due diligence around taking on the rest of the Argo back book.

Brian First was previously CUO of programs, property and specialty at Arch.

In his new position, the executive will report to Arch’s head of cyber and technology E&O, Marcus Breese.

In a Q3 earnings call today, Arch CEO Marc Grandisson also told investors that events like Hurricane Ian “almost always result in opportunities”.

The cat and expense developments offset favorable reserve developments during the quarter, as the Bermudian released $178mn.

Arch Capital has pegged its estimated Q3 pre-tax net catastrophe losses at $530mn-$560mn, impacted by Hurricane Ian, as well as other events like US convective storms, Typhoon Nanmadol and hailstorms in France.

Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.

Arch Capital CEO Marc Grandisson told analysts on an investor call today that the industry has started incorporating higher inflation into models.

The Bermudian also reported margin improvements and top line acceleration despite a decline in mortgage gross written premium.

David Longley will be responsible for further developing and expanding Arch’s portfolio.

Andrew Bauckham also served as chair of the Lloyd’s Market Association’s terrorism and PV panel.

Premia and Arch are pursuing AmTrust for costs relating to an RITC deal struck as part of the Canopius merger.