Santiago Hernandez promoted to CEO
Arch Re Facultative (Arch Re Fac) today announced several promotions in its leadership team that were effective Jan. 1, 2022. Santiago “Santi” Hernandez was named CEO of Arch Re Fac. Additionally, Scott Montgomery was promoted to President, Lisa Pickard was appointed Arch Re Fac’s first Chief Strategy Officer and Mike Karam was named Executive Director and Head of Hybrid Solutions. Jennifer Apgar, who has the dual roles of Chief Underwriting Officer (CUO) and Chief Operating Officer (COO), was given the additional responsibility of developing the infrastructure needed to handle Arch Re Fac’s substantial growth.
The promotions coincide with the retirement of former Arch Re North America CEO Ken Vivian at the end of 2021.
Hernandez joined Arch Re Fac in 2007 as Head Referral Officer. He has since held various roles, including Executive Director, and has served as President since 2017. As CEO, Hernandez will have oversight of Arch Re Fac’s global operations.
Montgomery also joined the company in 2007, serving as a Managing Director, and has held several positions including Executive Director and Head of Hybrid Solutions. As President, he will add leadership oversight and focus on business development initiatives.
Pickard is Arch Re Fac’s first Chief Strategy Officer, a role with an emphasis on driving initiatives around innovation and growth. She joined Arch in 2007 as Underwriting Director, transitioned into the Managing Director role in 2011 and most recently served as Executive Director.
Karam joined Arch in 2008 as an Underwriting Director and has held the role of Programs Director since 2011. As Head of Hybrid Solutions, his focus will be on creating tailored solutions that harness the benefits of facultative and treaty reinsurance into one product for Arch Re Fac’s clients.
Apgar will continue in her dual role as Chief Underwriting and Chief Operating Officer for Arch Re Fac with increased responsibilities for building out Arch Re Fac’s infrastructure and resources as the company expands its platform and capabilities. Apgar has been the company’s CUO since 2007 and added COO responsibilities in 2014.
“I want to thank Ken for his help positioning Arch Re Fac as a best-in-class facultative operation,” said Maamoun Rajeh, Chairman and CEO of the Arch Worldwide Reinsurance Group. “We have worked diligently to develop a deep and talented management team at Arch Re Fac and Santi is perfectly suited to continue our focus on smart decision-making, collaborating closely with our valued clients, and, most important, maintaining our unique and differentiating culture. Congratulations to Santi, Scott, Jen, Lisa and Mike on their promotions.”
Hernandez added, “I’m excited for the opportunity to lead our team here at Arch Re Fac. I’m fortunate to work alongside an incredible team and I look forward to collectively achieving Arch Re Fac’s fullest potential. Over the years we’ve endeavored to earn the loyalty and trust of our clients and we will continue to focus on developing long-term relationships with our partners.”
About Arch Re Facultative
Arch Re’s Facultative Reinsurance division focuses on supplying significant capacity to the global reinsurance marketplace backed by creative solutions and superior client service. Our team of experienced underwriters has been recognized by clients around the globe as being best-in-class at providing expert underwriting, skilled claims management, outstanding service and world-class product offerings.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $16.1 billion in capital at Sept. 30, 2021, 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 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 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; the Company’s 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 Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s 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 our 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 Re Fac
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