The Bermuda-based Arch Capital Group Ltd. (ACGL) has announced promotions in the reinsurance group “to support the recent expansion of the Company’s mortgage insurance and reinsurance operations.”
Marc Grandisson was recently named to the position of Chairman and CEO of Arch Worldwide Reinsurance and Mortgage Groups. He is responsible for the Company’s global reinsurance and mortgage operations. Grandisson has been with the Company since 2001 and has led the Company’s reinsurance group since 2005. He reports to Constantine (Dinos) Iordanou, Chairman, President and CEO of ACGL.
Nicolas Papadopoulo has been promoted to the position of CEO Reinsurance Group. He will have direct responsibility for the Company’s global reinsurance operations and will report to Grandisson. Papadopoulo has been with the Company since 2001 and most recently served as Chairman and CEO of Arch Reinsurance Ltd. based in Bermuda.
Maamoun Rajeh, who is President and CEO of Arch Reinsurance Europe Underwriting Limited (Arch Re Europe), will assume the position of Chairman and CEO of Arch Re Bermuda, reporting to Papadopoulo. Rajeh has been with the Company since 2001.
Scott Stirling also recently joined Arch Re Bermuda and will assume the position of Chief Underwriting Officer of the company. He has over 30 years of reinsurance underwriting experience and most recently served as Vice President – Underwriting Officer of Berkshire Hathaway, where he previously worked with Grandisson and other members of the Company’s senior team.
The bulletin noted that the “above changes are subject to applicable immigration approvals.”
Michael Hammer, who is Head, Credit & Surety of Arch Re Europe, will succeed Rajeh as President and CEO of Arch Re Europe, subject to the approval of the Central Bank of Ireland. He has been with the Company since 2012 and has over 20 years of reinsurance industry experience.
Pierre Jal has been promoted to the new position of Chief Underwriting Officer of Arch Re Europe. He joined the Company in 2007 and most recently served as Chief Underwriting Officer Property and Casualty of Arch Re Europe.
Jerome Halgan will assume the position of President of Arch Reinsurance Company based in New Jersey (Arch Re US), reporting to Tim Olson, Chairman and CEO of Arch Re US. Halgan joined the Company in 2009, serving most recently as Chief Underwriting Officer of Arch Re Bermuda. His appointment is subject to applicable immigration approvals.
In addition, James Franson has been promoted to the position of Executive Vice President – Chief Underwriting Officer of Arch Re US and will report to Halgan. Franson has been with the Company since 2001, serving most recently as Executive Vice President – Specialty Casualty.
Franson succeeds Dale Vincent, who has assumed the new position of Managing Director in the Company’s growing mortgage insurance division, where he will play a key role in developing and executing strategic initiatives. Vincent joined the Company in 2001, serving in various senior roles, including Chief Underwriting Officer of Arch Re US.
Kenneth Vivian has succeeded Steven Franklin as the President and CEO of Arch Re Facultative. Vivian joined the Company in 2007 as Executive Director of Arch Re Facultative. Franklin will continue with the Company as a Senior Advisor for the reinsurance division.
Scott Montgomery and Santiago Hernandez have been promoted to the position of Executive Director. Montgomery joined the Company in 2007 as a Managing Director of Arch Re Facultative, and Hernandez has been with the Company since 2007 as Chief Referral Officer of Arch Re Facultative.
With respect to the Company’s mortgage operations, and as previously announced, Andrew Rippert serves as CEO Global Mortgage Insurance and Reinsurance, reporting to Grandisson, and Arch U.S. MI is led by President and CEO David Gansberg, who reports to Rippert. Additionally, Giuliano Giovannetti serves as President and CEO of Arch Mortgage Insurance Limited based in Ireland, reporting to Rippert.
Iordanou commented: “The new promotions and management changes will support the expansion of our mortgage insurance and reinsurance business. Our ability to promote from within is another indication of the depth and strength of the management team we have built at Arch. Having worked with Marc, Nicolas and the other members of the senior team for many years, I have a lot of confidence in them and am very pleased that they will lead our reinsurance operations into the future.”
Grandisson added, “Our reinsurance group is in very able hands. I believe that we are well positioned to capitalize on opportunities in the marketplace and to face market challenges. All of us at Arch would also like to thank Steve Franklin for his essential role in building our facultative group since joining us in 2007, and we also look forward to his continued involvement with the Company in his new position.”
Source: Arch Capital Group