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The underwriter left Navium Marine last year and before that worked at Atrium. -
The move will impact around $50mn of gross written premiums in total.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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Duc Tu and Lucy Howard have resigned from Atrium.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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The specialty reinsurer also saw several bad investments hit the books.
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The broker said that there could be a flattening of rate decreases in the hull market in 2026.
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Arch will continue to provide long-term capacity for the MGA.
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The company has also expanded its relationships with US and UK MGAs.
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Verita leadership and staff will remain intact and “seamlessly functional”.
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