Arch Capital

Everest Re’s $1.5bn capital raise could be part of a continued pivot, or an early indicator of a shifting marketplace.

The pair will be responsible for managing underwriting activity across their respective lines.

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Arch plans to “take advantage” of these favorable market conditions, and may expand PML to 10%-12% of shareholders’ equity by July 1, from the current 8.1%.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The company also reported top-line growth of 25.8%, with gross premiums written during the quarter totaling $4.8bn.

The Bermudian increased its cat load to $100mn-$120mn in Q1 2023, compared to around $80mn a quarter for 2022.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Pre-tax current accident year net cat losses for the insurance and reinsurance segments totaled $34.6mn for the quarter, nearly half of the $72.3mn figure posted in Q4 2021.

The executive will report to Brian First, president of Arch Insurance North America, as a member of the executive leadership team in the region.

Enstar is conducting due diligence around taking on the rest of the Argo back book.