New agency will manage Syndicate 2012, Syndicate 1955, Arcus 1856 and Toa Re SPA 6132.
London, 22 September 2020 – Arch Insurance International has today announced the establishment of Arch Managing Agency Limited, effective immediately.
Arch Managing Agency Limited (formerly Barbican Managing Agency Ltd), which brings together Arch Underwriting at Lloyd’s and Barbican Managing Agency Ltd. into a single operation, will manage Syndicate 2012, Syndicate 1955, Arcus 1856 and Toa Re Special Purpose Arrangement 6132.
Arch Managing Agency Limited will be led by Ben Canagaretna who has been appointed as Managing Director. Canagaretna will report to Hugh Sturgess, President & CEO, Arch Insurance International.
Prior to joining Arch Insurance International, Canagaretna was Group Chief Actuary at Barbican Insurance Group (Barbican).
Commenting on the launch, Sturgess said: “By establishing a single managing agency we can better support our four Lloyd’s operations to enhance their market position and promote an environment that is beneficial to our third-party capital partners.”
TAG WORDS
Arch Managing Agency Limited, Arch Insurance International, Syndicate 2012, Syndicate 1955, Arcus 1856, Toa Re Special Purpose Arrangement 6132, Canagaretna
EDITOR’S NOTES
About Arch Insurance International
Arch Insurance International is part of Arch Capital Group Ltd. and includes Arch Insurance UK and the P&C insurance operations of Arch Insurance (EU) dac, as well as Arch’s insurance operations in Europe, Bermuda and Australia.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a Bermuda-based company with approximately $13.10 billion in capital at March. 31, 2020, 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 our ability to maintain and improve our ratings; investment performance; the loss of key personnel; the adequacy of our 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; our ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses we have 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 us of reinsurance to manage our gross and net exposures; the failure of others to meet their obligations to us; and other factors identified in our filings with the U.S. Securities and Exchange Commission.
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. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Media Contacts
Patrick Palmer
Head of Marketing and Communications, Arch Insurance International
M +44 7900 743664
Nigel Allen or Suzanne Hirst
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M +44 7988 478824 / M +44 7988 140357