Arch Insurance unveils new structure, key leadership changes
Bermuda-based re/insurer Arch Capital has unveiled key leadership changes while creating a new organisational structure dedicated to specific lines of business.
The company has appointed Matt Shulman to the newly created role of CEO, Arch Insurance North America, effective from January 2019. In this role, he will lead Arch Insurance’s operations in the US and Canada, reporting to Nicolas Papadopoulo, Chairman and CEO of Arch Worldwide Insurance Group.
Shulman has been with Arch Insurance since 2009 and has served as the president and CEO of Arch Insurance Europe since 2016.
“Matt brings significant U.S. and international experience to this role. Under his leadership, together with our senior team, Arch Insurance will continue to enhance our value proposition to our customers through a robust, diversified product portfolio, creative solutions and excellent service,” Papadopoulo said.
As part of its new organisational structure, the company has named three chief underwriting officers (CUOs) to provide strategic and dedicated oversight of their business units, allowing Arch to provide more flexible, comprehensive solutions.
The newly named executives include Brian First (CUO of programmes, property and specialty), John Rafferty (CUO of financial and professional lines), and Rich Stock (CUO of large account casualty and surety).
In addition, John Mentz, who serves as president of Arch Insurance North America, has been promoted to the additional role of Arch Insurance Worldwide chief operating officer. Mentz oversees various corporate functions including finance, actuarial, operations and ceded reinsurance.
Shulman commented: “We have a strong underwriting culture at Arch Insurance and firmly believe this new structure will better position us to use our expertise to become a go-to solution provider for our distribution partners. This will ultimately deliver greater value and differentiation to our clients.”
Papadopoulo added: “These well-deserved promotions not only reward individual success, they also strategically position Arch Insurance to continue to maximize our value proposition to our clients both now and into the future.”
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