Maggie Munns promoted to lead the division as Michael Chu rejoins Arch Insurance North America; Matthew Doherty promoted to Director of Underwriting.
London, 16 September 2024 – Arch Insurance International (Arch) has today announced the promotions of Maggie Munns to the position of Head of Executive Assurance and Matthew Doherty to Director of Underwriting, Executive Assurance both effective immediately.
In her new role, Munns will be responsible for leading the underwriting activities of the Executive Assurance division which includes Commercial D&O, SME D&O, Financial Institutions and Transactional Risk. Based in London, she will report to Mike Lay, Chief Underwriting Officer, Long Tail Lines, for Arch Insurance International.
The promotion follows the relocation of Michael Chu to the U.S. where he will rejoin Arch Insurance North America in the role of Senior Vice President, P&C Programs. Munns is an accomplished underwriter, having started her career with Arch Insurance North America in 2015 before moving to London in 2021.
Doherty joined Arch in 2005 and was most recently Executive Assurance Underwriting Manager. In his new role, he will report to Munns.
Commenting on the announcement, Lay said: “Maggie and Matthew’s promotions are fully deserved. Maggie has continually demonstrated her leadership skills, deep technical expertise and ability to build long-term broker relationships. I have no doubt that our underwriting teams will continue to thrive under her leadership, and with Matthew’s ongoing support, as we continue to strengthen our relevance and market standing across our Executive Assurance lines.
I would also like to thank Mike for his successful leadership of the division over the last six years and commitment to building such an extensive and diverse Executive Assurance portfolio. We wish him all the best in the next chapter of his career with our colleagues at Arch Insurance North America.”
TAG WORDS
Arch Insurance International, Executive Assurance, D&O, Financial Institutions, Transactional Risk, Maggie Munns, Matthew Doherty, Mike Lay, Michael Chu
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 publicly listed Bermuda exempted company with approximately $23.4 billion in capital at June 30, 2024, 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 the Company’s 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 the Company’s 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; 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 our gross and net exposures; the failure of others to meet their obligations to the Company; a disruption caused by cyber-attacks or other technology breaches or failures on the Company or the Company’s business partners and service providers, which could negatively impact the Company’s business and/or expose the Company to litigation; and other factors identified in our 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 the Company’s behalf are expressly qualified in their entirety by these cautionary statements. The Company’s forward-looking statements speak only as of the date of this press release or as of the date they are made, and 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.
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Source: Arch Insurance (UK) Limited
Media Contacts
Patrick Palmer
Head of Marketing and Communications, Arch Insurance International
M +44 7900 743664
Nigel Allen or Suzanne Hirst
PR agency – Allen & Clapham
M +44 7988 478824 / M +44 7988 140357