Arch Capital

Linda Daly will join the company’s D&O division led by Michael Chu.

The executive joined the company in 2010.

The CEO also said that price increases in property cat were insufficient for the company to allocate more capital to the line.

The (re)insurer’s GWP surged 32%, helped by strong gains in both its insurance and reinsurance divisions.

Chicago-based Evertas will write crypto-asset policies on behalf of Arch and aims to expand relationships with other carriers.

The appointment comes after Sarah McGurk resigned to join Aviva.

Lisa Packard, a long-time Arch facultative executive, has also been named chief strategy officer for the US reinsurance division.

Liz Cunningham, Watford’s chief risk officer, has been named its new CEO, as the company said that ratings agency AM Best had affirmed the outlook on its A- FSR to "stable".

Underwriting profits soared by 66% to $174mn, with a $234mn underwriting gain in mortgage outweighing losses in insurance and reinsurance.

The coverholder has also expanded its product offering and now underwrites marina business.

The (re)insurer pegged industry losses from Ida at $30bn and increased its share buyback program to $1.5bn.

The cat market has a problem with sustained underperformance which, particularly following the ESG Awakening, could attract negative boardroom attention.