Arch Insurance has made changes in its leadership roles, with Matt Shulman set to take over the newly created role of CEO for Arch Insurance North America, effective 1 January 2019.
In this role, he will lead Arch Insurance’s operations in the United States and Canada. He will report to Arch Worldwide Insurance Group chairman and CEO Nicolas Papadopoulo.
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.
Papadopoulo said: “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.”
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 Shulman. The three newly named CUOs are:
Brian First as programs, property and specialty, chief underwriting officer
John Rafferty as financial and professional lines, chief underwriting officer
Rich Stock as large account casualty and surety, chief underwriting officer
Shulman said: “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.”
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. 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. Mentz joined Arch Insurance in 2002.
Papadopoulo said: “Arch is known for its deep pool of talent and penchant for promoting from within. 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.”
Source: Company Press Release