Arch Reinsurance Group announces senior promotions naming Halgan President & CUO

Arch Reinsurance Group has announced the promotion of three senior executives, Jerome Halgan, Vanessa Hardy Pickering and Lester Pun, all effective April 1, 2024.

Halgan, who has been with the company since 2009, will be taking over the role of President and Chief Underwriting Officer of Arch Reinsurance Group, in addition to maintaining his role as CEO of Arch Re Ltd.

In this expanded role, he will also oversee underwriting strategy, operations and approach across the company.

Hardy Pickering was appointed as Chief Financial Officer (CFO) of Arch Reinsurance Group. In her new role she will work closely with Reinsurance CFOs across the company to shape the future state of the finance department.

She joined Arch in 2021 and most recently served as the CFO of Arch Re Ltd. Arch stated it selected Hardy Pickering due to her track record of supporting strategic growth plans, leading strong teams and serving as a trusted partner.

Finally, Pun, who has more than 20 years of actuarial and operational experience, was appointed Chief Operating Officer of Arch Reinsurance Group.

In his new role, he has been tasked to drive the execution of key transformation projects across the Company, including oversight and support of its data strategy initiative.

Having joined Arch in 2018, Pun has the practical know-how to bring Arch Reinsurance Group’s future ambitions into reality, the firm stated. He most recently served as Chief Actuary of Arch Re Ltd.

Commenting on the appointments, Maamoun Rajeh, Chairman and CEO of Arch Reinsurance Group, said: “I am thrilled to announce Jerome, Vanessa and Lester’s well-earned promotions and to celebrate their contributions to Arch Re’s success.

“Our deep talent pool continuously produces exceptional leaders, steeped in our unique performance culture. I look forward to the positive impact these executives will continue to have on our employees, clients and partners, as we further establish Arch Re as a leader in our industry.”

News of the new appointments come shortly after Arch reported a stronger reinsurance underwriting result as a group in Q4 23, seeing its net income hit $2.3bn, a great improvement compared to Q4 22’s $849mn.

As catastrophe losses increased, the group saw a combined ratio of 78.9% which compares with the 73.5% reported the year prior.

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