Arch Capital

Arch’s estimate is commensurate with a range of expected insured losses across the global P&C industry of $50bn to $60bn.

Ratings agencies suggest that carriers must do better on controlling volatility – but diverging risk appetites give the lie to the idea that the industry is walking away from risk.

A New Jersey judge writes a scathing decision criticizing hospitality firms for attempting to claim physical damage from virus and misinterpreting policy language.

The executive joined the company in 2010.

Underwriting profits soared by 66% to $174mn, with a $234mn underwriting gain in mortgage outweighing losses in insurance and reinsurance.

The (re)insurer pegged industry losses from Ida at $30bn and increased its share buyback program to $1.5bn.

Sources told Trading Risk that a different kind of investor was interested in ILWs compared with retro cat bonds.

In the last round of marketing, the firm said it would lift the principal to $125mn-$150mn after initially seeking just $100mn.

It will be the insurer’s first foray into the cat bond market.

The coverage was obtained by issuing approximately $523mn in bonds and $93mn in direct reinsurance.

The deal is the carrier’s fourth ILS transaction of 2020.

Significant start-up moves this month included Kathleen Faries and Julia Henderson joining Lavant and Piers Cantlay signing up to join McGill.