Arch Capital
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The executive will report to Brian First, president of Arch Insurance North America, as a member of the executive leadership team in the region. -
Enstar is conducting due diligence around taking on the rest of the Argo back book.
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Brian First was previously CUO of programs, property and specialty at Arch.
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Across the P&C industry, sentiment expressed on Q3 conference calls has improved since pandemic lows.
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In his new position, the executive will report to Arch’s head of cyber and technology E&O, Marcus Breese.
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Axis’ pivot away from property reinsurance comes just as the sector reaches one of the biggest inflection points.
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Discussion on Q3 earnings calls focused heavily on the supply-demand imbalance in cat capacity, as executives discussed how they would navigate a challenging January renewal.
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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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In a Q3 earnings call today, Arch CEO Marc Grandisson also told investors that events like Hurricane Ian “almost always result in opportunities”.
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The cat and expense developments offset favorable reserve developments during the quarter, as the Bermudian released $178mn.
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Arch’s estimate is commensurate with a range of expected insured losses across the global P&C industry of $50bn to $60bn.
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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.
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