The new team will provide cover for a broad range of intellectual property risks
London, 08 November 2023 – Arch Insurance International has today announced the launch of a new intangible assets team, effective immediately. The team joins from Aon following an agreement to acquire certain assets of its Intellectual Property (IP) Liability MGA business.
Led by Ian Lewis who has been named Head of Intangible Assets. The five-person underwriting team will offer a range of insurance solutions that provide comprehensive protection to businesses for the fast-evolving intangible asset environment. Coverage will be provided to organisations of all sizes for a broad range of risks, including intellectual property infringement exposures, contractual liabilities, invalidation and business interruption. Lewis will report to Duncan Smith, Head of Professional Lines.
Lewis is a highly accomplished practitioner with over 30 years of market experience, operating primarily in the intellectual property and intangible risk arenas. Most recently, he was Global Head of Intellectual Property Underwriting Solutions at Aon. Prior to Aon, Lewis held roles at Tokio Marine Kiln, Samian Underwriting Agency and Miller Insurance Services.
Based in London, the underwriting team also includes Justyn Hardcastle, Senior Underwriter; Carys Bickmore, Underwriter; Ben Kemsley, Underwriter and Chris Sclimenti, a U.S.-based Senior Underwriter who will work closely with the London team. Sclimenti will also be responsible for spearheading Arch’s life sciences practice.
Commenting on the announcement, Hugh Sturgess, Chief Executive Officer, Arch Insurance International said: “The launch of our intangible assets team is a natural progression for Arch as we continue to expand our professional lines offerings. We see significant opportunities for growth in this class and are well positioned to offer our brokers and mutual clients comprehensive solutions to respond to the evolving risks to their intangible assets. By bringing on board an established and respected team led by Ian, we seek to establish Arch as a lead market in the intangible assets space.”
Lewis Lee, CEO of Aon’s Intellectual Property Solutions, commented: “We are very proud of the underwriting team and how they have helped Aon continue to develop the IP Liability Insurance market over the last few years. In an innovation-driven growth economy, solutions involving IP assets represent a significant opportunity for Aon and the insurance industry globally. We will continue to focus on broking the full mix of IP solutions for our clients – which includes continuing to grow our IP Liability business.”
TAG WORDS
Arch Insurance International, appointment, intangible assets, intellectual property, Lewis, Smith, Hardcastle, Sclimenti, Bickmore, Kemsley, Sturgess, Lee
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 $18 billion in capital at September 30, 2023, 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 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