Arch Capital
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The executive will oversee all aspects of managing direct insurance operations at the business. -
Patin will oversee Somers’ overall investment strategy and direct its investment managers.
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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.
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A 15% tax is in the works, but appears manageable, and with (re)insurance being Bermuda’s largest industry, the territory will take steps to keep companies where they are.
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Differences in reinsurer strategies and risk management lead to differentiation in stock multiples and long-term value creation.
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CFO Morin said Arch was able to deploy more capacity, resulting in a significant premium growth for property lines.
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Sources suggest that, based on a multiple of 15x-17x Ebitda, the business could be valued at £300mn-£375mn.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The executive, based in Morristown, New Jersey, will be responsible for the company’s US reinsurance operations.
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Under terms of the partnership, Arch Capital has acquired a minority stake in the Bermuda-based MGA.
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Inside P&C’s news team runs you through the key highlights of the week.
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Reinsurers have mostly grown since before the Covid crisis, but the type and timing of growth affects value creation,
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