HAMILTON, Bermuda--(BUSINESS WIRE)--Arch Insurance today announced that Matt Shulman will assume the newly created role of CEO, Arch Insurance North America, effective January 1, 2019. In this role, he will lead Arch Insurance’s operations in the United States and Canada. He will report to Nicolas Papadopoulo, Chairman and CEO of Arch Worldwide Insurance Group.
Mr. Shulman, who has more than 20 years of experience in the insurance industry, has been with Arch Insurance since 2009 and has served as the President and CEO of Arch Insurance Europe since 2016.
“Matt brings significant U.S. and international experience to this role. Under his leadership, together with our senior team, Arch Insurance will continue to enhance our value proposition to our customers through a robust, diversified product portfolio, creative solutions and excellent service,” Mr. Papadopoulo said.
Arch Insurance has also created a new organizational structure with three Chief Underwriting Officers (CUO) dedicated to specific lines of business. These CUOs will provide strategic, dedicated oversight of their business units, allowing Arch to provide more flexible, comprehensive solutions. These executives will report to Mr. Shulman. The three newly named CUOs are:
- Brian First as Chief Underwriting Officer – Programs, Property and Specialty.
- John Rafferty as Chief Underwriting Officer – Financial and Professional Lines.
- Rich Stock as Chief Underwriting Officer – Large Account Casualty and Surety.
“We have a strong underwriting culture at Arch Insurance and firmly believe this new structure will better position us to use our expertise to become a go-to solution provider for our distribution partners. This will ultimately deliver greater value and differentiation to our clients,” Mr. Shulman said.
In addition, John Mentz, who serves as President of Arch Insurance North America, has been promoted to the additional role of Arch Insurance Worldwide Chief Operating Officer. Mr. Mentz oversees various corporate functions including finance, actuarial, operations and ceded reinsurance. He will bring his skills and expertise to a global level to build out best practices across multiple Arch Insurance geographies. Mr. Mentz joined Arch Insurance in 2002.
“Arch is known for its deep pool of talent and penchant for promoting from within,” said Mr. Papadopoulo. “These well-deserved promotions not only reward individual success, they also strategically position Arch Insurance to continue to maximize our value proposition to our clients both now and into the future.”
About Arch Insurance Group
Arch Insurance Group Inc. is a member of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. For more information, visit www.archcapgroup.com./insurance/regions/United-States.
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; 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.