Arch Reinsurance Europe Underwriting Limited announced that Maamoun Rajeh will be appointed as the company’s President and CEO as of July 1, 2012. He will succeed Helmut Söhler, who will assume the position of Vice Chairman of Arch Worldwide Reinsurance Group.
Rajeh’s new position sees him move from Arch Reinsurance Ltd. (Arch Re Bermuda), where he has served as Chief Underwriting Officer since 2005. He has been with Arch Re Bermuda since 2001, and has 20 years of experience in the industry across a wide range of products. The changes are expected to become effective on July I, but remain subject to regulatory approvals.
The bulletin explained that Arch Re Europe “completed its acquisition of Ariel Re’s Credit & Surety reinsurance operations based in Zurich in April 2012 on the heels of adding a team focused on underwriting Crop business on a worldwide basis in the fall of 2011.
“These recent developments have added substantially to Arch Re Europe’s existing underwriting platform at its Zurich branch office. Considering the Company’s larger platform and more diverse product offering, Mr. Rajeh’s successful underwriting track record at Arch Re Bermuda will be a significant contributor to the future success of Arch Re Europe.”
Marc Grandisson, the Chairman of Arch Worldwide Reinsurance Group, stated: “I look forward to continuing to work closely with Helmut in his new role with the Arch Worldwide Reinsurance Group, providing strategic advice to all of us. Maamoun joins Arch Re Europe at an important time, which underlies our confidence in his abilities and our commitment to the European market.”
Jerome Halgan, currently the Head of Specialty at Arch Re Bermuda, will assume the role of Chief Underwriting Officer of Arch Re Bermuda as of July 1, 2012. In addition, Matthew Dragonetti, currently Head of US Property Treaty has been promoted to the role of Head of Worldwide Property of Arch Re Bermuda. Both promotions are subject to Bermuda immigration approvals.
Arch Re Europe is part of Arch Capital Group Ltd., a Bermuda-based company with approximately $5.24 billion in capital at March 31, 2012, which provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries.
Source: Arch Re Europe
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