Arch Insurance (EU) dac (AIEU) has announced the appointment of Duncan Smith as its new chief executive officer (CEO).
Smith (pictured) will take charge of the insurer’s executive management team and oversee its strategic plans for growth across Europe.
AIEU operates within the European Union, providing insurance through its property & casualty and mortgage divisions while supporting managing general agents (MGAs) via its Alwyn Europe division.
Having joined Arch in 2005, Smith most recently served as deputy CEO of AIEU. He previously led the professional lines segment for Arch Insurance International.
Kirsten Valder, director of AIEU and deputy CEO of Arch Insurance International, stated that Smith’s considerable underwriting expertise and leadership experience will be critical as AIEU continues to elevate its market position and relevance to brokers and customers across Europe.
“Duncan’s appointment as CEO marks an exciting next chapter for our EU business,” she said.
Smith succeeds Søren Scheuer, who has stepped down as CEO of AIEU. However, Scheuer will remain on the company’s board as a non-executive director, pending regulatory approval, and will assume leadership of the accident & health team at Arch Re Underwriting ApS.
Michael Hammer, a director at AIEU and president & CEO of Arch Reinsurance Europe Underwriting dac, acknowledged Scheuer’s contributions.
“We sincerely thank Søren for his leadership and relentless engagement during the past six years. During his tenure, Søren established a highly talented team and set the company on a clear course for European expansion,” he said.
The CEO transition follows the promotion of Tim Watson to the position of credit underwriting manager at Arch Insurance International.
In his new role, Watson will oversee underwriting for the company’s credit and political risk portfolio, which includes cover for non-payment, non-delivery, and a range of political risks. Based in London, he will report to Ed Cornish, Arch’s head of credit and political risk.
Watson joined the company in 2021 as a senior underwriter for credit and political risks. Before this, he worked in a similar role at Canopius. In addition to his responsibilities at Arch, Watson chairs the International Underwriting Association of London’s Political Risks Committee.
Cornish highlighted Watson’s role in developing Arch’s portfolio, saying: “He has continued to demonstrate his leadership skills and depth of broker relationships, and in his new role, will play a central part in delivering on our ambitions both for the credit sector and wider portfolio.”
