This interview was first published in Insurance News Australia.
From small beginnings, the international insurer is building an increasingly important presence in the Australian market
Bermuda-based Arch Capital Group writes more than $US20 billion of premium across insurance, reinsurance and mortgage insurance segments – yet it was formed less than 25 years ago.
There’s a similarly impressive growth story, albeit on a much smaller scale, developing locally.
Arch’s Australian operation, which sits under the Arch Insurance International umbrella, traces its roots back to 2009, when it primarily provided coverholder support.
But after getting boots on the ground, and growing tenfold over the past decade, it has evolved into a very different proposition.
Arch now has a staff of 70 in Sydney and Melbourne, working exclusively with brokers on six lines of business: directors’ and officers’, professional indemnity, casualty, accident and health, commercial property, and cyber.
“The whole purpose of the Australian operation is to capture local expertise, and have underwriters serve brokers on a local basis,” Arch International chief executive Hugh Sturgess tells Insurance News.
Read the full article here.