Arch Reinsurance Welcomes Greg Habay

Rhea-AI Summary

Arch Reinsurance (ARCH) appoints Greg Habay as Managing Director, Head of Business Development and ILS Partners Relations. Habay will lead the ILS business development efforts, expanding investor base and strengthening third-party capital strategies. His expertise from Third Point LLC, AQR Capital Management, JLT Re, and Guy Carpenter North America will drive Arch Re's ILS practice to achieve industry-leading status.

PEMBROKE, Bermuda--(BUSINESS WIRE)-- Arch Reinsurance today announces the appointment of Greg Habay as Managing Director, Head of Business Development and ILS Partners Relations.

In this role, Habay will be responsible for leading Arch Re’s Insurance-Linked Securities (ILS) business development efforts, including outreach to investors in support of ILS and third-party capital strategies. He is based in New York.

“I am delighted to welcome Greg to Arch Re. As our ILS platform has matured, our partners and investor base have grown in concert. Greg’s addition marks the next stage in our evolution, as we continue to build and service both new and existing relationships,” said Maamoun Rajeh, Chairman and CEO of Arch Worldwide Reinsurance Group. “Building on Arch’s established history of third-party capital partnerships, we are determined to achieve an industry-leading ILS practice focused on providing our clients with a diversified pool of capital while leveraging Arch Re’s underwriting outperformance. With an exceptionally strong team already in place, adding Greg’s well-known and highly specialized expertise will help propel us as we advance to our next stage.”

Habay joins Arch from Third Point LLC where he was Managing Director, Business Development and Investor Relations. In this role, Habay led fundraising and investor engagement through multiple channels including institutional allocators globally. Over the course of his career, Habay held ILS business development roles at AQR Capital Management and reinsurance broking positions at JLT Re and Guy Carpenter North America.

“I’m thrilled to join Arch and contribute to the continued success and expansion of its ILS, third-party capital platform. I’ve known this team for over 20 years and believe the culture of excellence and quality of underwriting combined with its customized investor partnerships provide differentiated and best-in-class risk-adjusted offerings uncorrelated to traditional asset classes,” Habay said.

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 $18.0 billion in capital at September 30, 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 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.

Source: Arch Reinsurance

Tag: arch-reinsurance

View source version on businesswire.com: https://www.businesswire.com/news/home/20231129334156/en/

Arch Capital Services LLC

Greg Hare

ghare@archgroup.com

Stephanie Perez

stperez@archgroup.com

Source: Arch Capital Group Ltd.

FAQ

Who is the new Managing Director and Head of Business Development at Arch Reinsurance?

Greg Habay is the new Managing Director, Head of Business Development and ILS Partners Relations at Arch Reinsurance.

What will Greg Habay be responsible for in his new role at Arch Reinsurance?

Habay will be responsible for leading Arch Re’s Insurance-Linked Securities (ILS) business development efforts, including outreach to investors in support of ILS and third-party capital strategies.

Where is Greg Habay based for his new role at Arch Reinsurance?

Greg Habay is based in New York for his new role at Arch Reinsurance.

What is Greg Habay's background and expertise relevant to his new role at Arch Reinsurance?

Greg Habay has extensive experience in ILS business development from his previous positions at Third Point LLC, AQR Capital Management, JLT Re, and Guy Carpenter North America.

What are the goals of Arch Reinsurance in appointing Greg Habay?

Arch Reinsurance aims to expand its investor base, strengthen third-party capital strategies, and achieve industry-leading status in the ILS practice by appointing Greg Habay.

What are Greg Habay's views on joining Arch Reinsurance?

Greg Habay believes that the culture of excellence and quality of underwriting combined with its customized investor partnerships at Arch Reinsurance provide differentiated and best-in-class risk-adjusted offerings uncorrelated to traditional asset classes.