Arch creates new role in innovation strategy; shuffles mortgage leadership
Bermuda-based re/insurer Arch Capital Group has appointed Andrew Rippert, David Gansberg, and Michael Schmeiser to new leadership roles.
Rippert has been named chief innovation and strategic investment officer, reporting to ACGL president and CEO Marc Grandisson. In this newly created role, he will be responsible for pursuing innovative business models and developing a pipeline of creative products, services and untapped markets to deliver future revenue streams across all business lines.
Rippert joined Arch in 2010 and most recently served as CEO of the Global Mortgage Group for ACGL. He will continue to represent Arch in various government and trade associations.
Gansberg succeeds Rippert as CEO, Global Mortgage Group. He will oversee all of Arch’s mortgage insurance operations worldwide, including Arch Mortgage Insurance Company (Arch MI).
Gansberg joined ACGL in 2001 and most recently served as president and CEO of Arch MI. During his tenure, he oversaw the growth of that company from a startup to one of the largest private mortgage insurer in the United States.
Finally, Schmeiser will become the new president and CEO of Arch MI, reporting to Gansberg.
Schmeiser has nearly 20 years of strategy experience, primarily in financial services. He joined ACGL in 2017 following Arch’s acquisition of United Guaranty from AIG, where he held senior strategic roles. Most recently, he has served as chief strategy officer of the Global Mortgage Group, reporting to Rippert.
Grandisson said: “At Arch, we have always considered innovation a key part of expanding our business and meeting our customers’ needs. What has been accomplished in the Mortgage segment over the past few years, under Andrew’s leadership, has been amazing. By creating this new role, we’re tasking Andrew with developing the long-term future of the firm and determining how we will capitalize on the opportunities ahead of us.”
“This move is only possible because of the deep talent pool that exists in the Mortgage segment," Grandisson added. "David has been a key member of Arch’s leadership team since our founding in 2001 and has excelled in building and guiding Arch MI to its market leading position in the U.S. His promotion ensures the continuity of our strategy and approach to the business and provides him with new challenges and opportunities globally.”
“Michael Schmeiser has been a real asset since joining Arch. I’ve enjoyed working with him and know that he’s had a great opportunity to learn directly from Andrew. He’ll bring that insight and a fresh perspective to Arch MI.”
Rippert commented: “Growing the Mortgage Group from an idea to a unit that generated nearly $1 billion in profit for Arch in 2018 is an incredible source of pride for me. This new role will challenge my entrepreneurial spirit and help ensure the business I’ve helped grow will exist for the next 30 years. I know the Mortgage Group is in great hands, and I look forward to working closely with both David and Michael, as well as other leaders across ACGL, to pursue growth opportunities.”
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