Arch Insurance International CEO Hugh Sturgess talks to The Insurer TV for their prestigious ‘Leading Voices’ programme, where he discusses Arch’s ‘absolute and complete transformation’ across all metrics since 2019 and how the business is well positioned to continue its upwards trajectory following its recent ‘astonishing’ growth.
“We knew that there was the basis, the talent, all the drive, and all the determination within this team to be able to do something different. What also made the difference was a couple of acquisitions in 2019, that changed our disposition and really gave this team a belief.”
During an in-depth conversation, Hugh addresses a range of key company and market developments, including Arch’s growth strategy, our ongoing commitment to our markets, intentions to further boost our broker relevance, as well as opportunities created by evolving market conditions.
Commenting on the rapid progress up the broker service rankings in recent years, Hugh highlights how this clearly illustrates Arch’s strengthening broker relationships.
“That’s probably just as much a positive for us in the sense that we know that there’s now a consistent collaboration with the brokers. Any long-term business in the insurance world sustains itself on exactly that partnership… as long as your brokers are going back to you, that’s where it makes the biggest difference.”
He also recognises the key role brokers have played in addressing the multiple challenges of hyperinflation.
“They did a really exceptional job of handling the process of renewal communication on inflation with their insureds. That’s a difficult task, and quite a novel one, if you go back in the 40-year history of monetary policy and inflation history.”
In his closing comments, Hugh confirms that ‘Arch is here for the long haul’, outlining our longer-term ambitions and what we need to accomplish by 2025.
“Those objectives span every function… everything from expense ratio management to share of wallet, and relevance in the market, and market leadership in certain classes of business. So, we’re really laser focused on those 100 objectives… And we’re making good progress.”
Click here to view the interview.