Arch Capital
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Several (re)insurer reporters do not anticipate the rate momentum to slow down materially even as they build on exposure growth.
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Arch CEO Marc Grandisson has said he is “not losing sleep” over the prospect of new (re)insurance startups snuffing out the hard market.
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Arch’s combined ratio improved by 1.2 points to 89.2% and company weathered winter storms to produce an underwriting profit just shy of $200mn.
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The carrier joins peers including Tokio Marine Kiln, MS Amlin and Brit.
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The new reinsurance backing is provided by Arch’s Bermudian arm and Lloyd’s syndicate 1955.
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Around 80% of the losses are expected from the reinsurance business.
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Arch Insurance has named Jim Villa as a senior vice president of strategy and distribution at the carrier’s accident and health (A&H) business unit.
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The acquisition adds to Arch’s mortgage insurance operations in Bermuda, Europe and the US.
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Arch anticipates mortgage insurance returns to be in the mid-teens, with P&C insurance and reinsurance in double digits.
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The reinsurer completes its EUR453mn deal for 29.5% stake in French trade credit carrier.
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Inside P&C’s research team examines some of the areas that will be closely watched during the results season.
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The Bermuda (re)insurance trade body elects officers for 2021-2022.