MORRISTOWN, N.J.--(BUSINESS WIRE)--Arch Reinsurance Company (Arch Re Co.) today announced several promotions in its leadership team that were effective Jan. 1, 2022. Peder Moeller became CEO, while Jessica Bongiorno was promoted to Chief Underwriting Officer (CUO), Property and Specialty, and Joshua Hackett assumed the role of CUO, Casualty and Specialty.
The promotions coincide with the retirement of former Arch Re North America CEO Ken Vivian at the end of 2021.
Moeller has nearly 14 years of tenure with Arch and has served as CUO for Arch Re Co. since 2017. Moeller has also held roles as Managing Director, Treaty Casualty and prior to that Director of Workers Comp and Casualty Clash. Moeller originally joined Arch Re in 2007 as the Assistant General Manager of Arch Re Accident & Health out of Copenhagen. As CEO, Moeller will have responsibility for the company’s overall direction and sustainable profitability.
Bongiorno has been with Arch Re Co. since 2006, most recently as Head of Property. In her new role, she will lead the Property, Aviation, Crop, Surety and Workers Comp Cat and Clash teams.
Hackett joined Arch Re Co. in 2016 as Director of Casualty Treaty before being promoted to Head of Casualty. As CUO, Casualty and Specialty, he will lead the Casualty, Professional Liability and Structured teams.
Together, Bongiorno and Hackett will work with business unit heads and the underwriting team to drive best-in-class performance and further establish Arch Re Co. as a leading U.S. reinsurer.
“I want to thank Ken Vivian for leading the Arch Re franchise in North America and wish him the best in his well-earned retirement,” said Maamoun Rajeh, Chairman and CEO of Arch Worldwide Reinsurance Group. “Our bench is deep and our next generation of leaders is stepping up. Peder did an excellent job as CUO and is highly respected by both Arch’s clients and his colleagues. I’m excited to see Arch Re Co. continue to grow under his leadership. Jess and Josh’s promotions to co-CUOs highlight the caliber of people we have at Arch Re and our emphasis on promoting from within. We have an incredible trajectory at Arch Re Co. and I’m looking forward to the next chapter.”
Moeller added “I’m honored to be able to take over as CEO of Arch Re Co. I learned so much from Ken and I look forward to working with Jess and Josh – and the entire Arch Re Co. team – as we continue to build our capabilities. Going forward, we will continue to focus on being the first call for creative problem solving with our clients and brokers, and maintaining a sustainable, profitable business.”
About Arch Reinsurance Company
Arch Reinsurance Company, part of Arch Capital Group Ltd., is a leader in the specialty property and casualty reinsurance marketplace. As underwriters of specialty casualty reinsurance, including some of today’s most distressed lines of business, Arch Reinsurance Company brings substantial, highly rated reinsurance capacity to key market niches.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $16.1 billion in capital at Sept. 30, 2021, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
Cautionary Note Regarding Forward-looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward−looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward−looking statements, which reflect our current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward−looking statements.
Forward−looking statements can generally be identified by the use of forward−looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. Forward−looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).
The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward−looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward−looking statement, whether as a result of new information, future events or otherwise.
Source: Arch Reinsurance Company
Tag: arch-reinsurance
