Arch Insurance International, a subsidiary of Arch Capital Group Ltd., has announced the appointment of James Barrett (pictured) as head of cyber and healthcare.
Barrett, who has served as interim head of cyber since October 2024, will now oversee underwriting activities across both the cyber and healthcare portfolios. A news release noted that Barrett will be responsible for advancing the company’s strategic objectives in these business lines while expanding its market presence. Based in London, he will report to Mike Lay, chief underwriting officer of long tail lines.
Having joined Arch in 2018 as head of healthcare, Barrett brings 18 years of underwriting expertise to the role, including a tenure as senior underwriter at Swiss Re Corporate Solutions.
“James is a highly experienced underwriter with proven leadership credentials. He has excelled as interim head of cyber, and his appointment to lead both the cyber and healthcare teams is a natural step,” said Lay. “These are core business lines, and James will play a leading role in further increasing our relevance through the delivery of creative, responsive, and effective underwriting solutions.”
Arch Insurance International includes Arch Insurance UK and the P&C insurance operations of Arch Insurance (EU) Dac, as well as Arch’s insurance operations in Europe, Bermuda, and Australia.
The cyber insurance market has continued to exhibit buyer-friendly conditions into 2025. Softening market trends that began in 2024 have persisted, characterised by increased competition among carriers, abundant capacity, higher coverage limits, and flexible underwriting practices. Rates have remained stable or experienced slight declines in certain cases.
Despite this stabilisation, challenges such as persistent ransomware and social engineering attacks, supply chain disruptions, and concerns over wrongful data collection have emerged. The rise of generative artificial intelligence (AI) has also drawn increased scrutiny from underwriters due to its potential to amplify cyber threats and complicate regulatory compliance.
Arch Capital Group Ltd., a publicly listed Bermuda-based company, reported approximately $23.5 billion in capital as of December 31, 2024.
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