Arch Reinsurance Group Announces Three Senior Promotions

Rhea-AI Summary

Arch Reinsurance Group announces the promotions of three senior executives, Jerome Halgan, Vanessa Hardy Pickering, and Lester Pun, effective April 1, 2024. Halgan will be President and Chief Underwriting Officer, Pickering as CFO, and Pun as COO. The promotions aim to enhance underwriting strategy, financial management, and operational execution within the Company.

PEMBROKE, Bermuda--(BUSINESS WIRE)-- Arch Reinsurance Group (the Company) today announces the promotions of three senior executives, effective April 1, 2024: Jerome Halgan, Vanessa Hardy Pickering and Lester Pun.

Details of the promotions are as follows:

• Jerome Halgan will be President and Chief Underwriting Officer of Arch Reinsurance Group, in addition to maintaining his role as CEO of Arch Reinsurance Ltd. (Arch Re Ltd.). In this expanded role, he will also oversee underwriting strategy, operations and approach across the Company. Halgan joined Arch in 2009, and his leadership to encourage innovation, collaboration and strengthen relationships with our clients has strongly contributed to the growth and continued success of the business.
• Vanessa Hardy Pickering will be Chief Financial Officer (CFO) of Arch Reinsurance Group. In this role she will work closely with Reinsurance CFOs across the Company to shape the future state of the finance department. Her track record of supporting strategic growth plans, leading strong teams and serving as a trusted partner makes her a natural fit for this new role. Hardy Pickering joined Arch in 2021 and most recently served as the CFO of Arch Re Ltd.
• Lester Pun will be Chief Operating Officer of Arch Reinsurance Group where he will drive the execution of key transformation projects across the Company, including oversight and support of its data strategy initiative. With more than two decades of actuarial and operational experience, Pun has the practical know-how to bring Arch Reinsurance Group’s future ambitions into reality. He joined Arch in 2018 and most recently served as Chief Actuary of Arch Re Ltd.

“I am thrilled to announce Jerome, Vanessa and Lester’s well-earned promotions and to celebrate their contributions to Arch Re’s success,” said Maamoun Rajeh, Chairman and CEO of Arch Reinsurance Group. “Our deep talent pool continuously produces exceptional leaders, steeped in our unique performance culture. I look forward to the positive impact these executives will continue to have on our employees, clients and partners, as we further establish Arch Re as a leader in our industry.”

To learn more about Arch Re, visit reinsurance.archgroup.com

About Arch Worldwide Reinsurance Group

Arch Worldwide Reinsurance Group encompasses Arch’s reinsurance operations around the globe. With offices in North America, Bermuda, Europe and Australia, Arch Worldwide Reinsurance provides specialty risk solutions through treaty and facultative property and casualty reinsurance with a disciplined underwriting approach.

About Arch Capital Group Ltd.

Arch Capital Group Ltd. (Nasdaq: ACGL) is a publicly listed Bermuda exempted company with approximately $21.1 billion in capital at Dec. 31, 2023. Arch, which is part of the S&P 500 Index, 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 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.

Source: Arch Reinsurance
Tag: arch-reinsurance

View source version on businesswire.com: https://www.businesswire.com/news/home/20240312177388/en/

Media:

Greg Hare

ghare@archgroup.com

Stephanie Perez

stperez@archgroup.com

Source: Arch Capital Group Ltd.

FAQ

Who are the three senior executives promoted by Arch Reinsurance Group?

The three senior executives promoted by Arch Reinsurance Group are Jerome Halgan, Vanessa Hardy Pickering, and Lester Pun.

What roles will Jerome Halgan, Vanessa Hardy Pickering, and Lester Pun assume in Arch Reinsurance Group?

Jerome Halgan will be President and Chief Underwriting Officer, Vanessa Hardy Pickering will be CFO, and Lester Pun will be COO of Arch Reinsurance Group.

When will the promotions of the three senior executives be effective?

The promotions of Jerome Halgan, Vanessa Hardy Pickering, and Lester Pun will be effective on April 1, 2024.

What is the significance of these promotions within Arch Reinsurance Group?

The promotions aim to enhance underwriting strategy, financial management, and operational execution within the Company.