Grandisson next president of Arch Capital

Bermuda insurer Arch Capital Group Ltd. announced Wednesday it has promoted Marc Grandisson to the position of president and chief operating officer effective Jan. 1.

Grandisson is currently chairman and chief executive officer of Arch Worldwide Reinsurance and Mortgage Groups.

Hamilton, Bermuda-based Arch writes specialty commercial insurance, as well as reinsurance. It owns Toronto-based Arch Insurance Canada Ltd. Worldwide, Arch Capital reported gross written premiums of US$1.158 billion in the three months ending Sept. 30, and net premiums written of US$3.9 billion for all of 2014.

In his new role, Grandisson will report to Arch Capital Chairman and CEO Dinos Iordanou. Grandisson “will have responsibility for all of the Company’s operating units, insurance, reinsurance and mortgage,” Arch said in a release. Other corporate functions, finance, investments and legal, “will continue to report” to Iordanou, Arch Capital added.

Arch’s coverages include casualty insurance for the construction industry, various lines of commercial liability, auto and inland marine, among others.

Grandisson (pictured below) was previously president and CEO of Arch Reinsurance Ltd.

Before joining Arch more than 14 years ago, Grandisson held senior positions at Berkshire Hathaway and F&G Re.

In addition to property catastrophe, Arch also reinsures third-party liability, workers compensation, excess and umbrella liability and marine and aviation.

Arch Capital also owns Arch Underwriting at Lloyd’s Ltd. (the managing agent of Arch Syndicate 2012), 11% of Watford Holdings Ltd. (which owns a Bermuda reinsurer), and a mortgage insurer in the U.S.

“With Marc’s guidance, our reinsurance and mortgage businesses have become significant participants in the marketplace, and he is an important member of our senior leadership team,” Iordanou stated in a release.