March 15, 2021 | Insurance Insights

Arch Launches Transport and Logistics Insurance Division

Arch Launches Transport and Logistics Insurance Division

Steve O’Gorman joins as Head of Transport & Logistics

London, 15 March 2021 – Arch Insurance International (Arch or the Company) has today announced the launch of a new transport and logistics insurance division and the appointment of Steve O’Gorman as Head of Transport and Logistics, effective immediately.

The new division offers a range of specialist and innovative marine and P&C insurance solutions for both the logistics and cargo sectors, on a global basis. It will also offer packaged insurance products specifically designed for companies operating in the fast-growing third-party logistics sector, including contractual/professional liability, shipper’s interest cargo, and property & equipment cover.

The division will be led by Steve O’Gorman. O’Gorman will be responsible for bringing innovative products to market and capitalising on his extensive experience in the sector to build a diverse and sustainable portfolio of business. He will report to James Croome, Active Underwriter Arch Syndicate 2012 and Head of Fine Art & Specie.

O’Gorman brings over 35 years of market experience to the role, spanning both the global cargo and logistics arenas. Previously, he was International Head of Marine & Energy at Argo Group having joined the company in 2016. Prior to that he worked at CNA Insurance Company for 19 years, most recently as European Underwriting Director – Transport & Logistics. He began his insurance career in 1984 at Sedgwick.

Commenting on the announcement, Croome said: “The launch of the transport and logistics division is a significant step for Arch given the growth potential we see in the sector. We believe that our ability to provide the breadth of cover – whether individual products or packaged solutions – through a single dedicated operation focused exclusively on the individual client will prove a winning market proposition.”

O’Gorman added: “We are excited about the potential to deliver market-advancing products in the cargo and logistics space. Our aim is to combine our market experience and technical underwriting expertise with data informed insight to deliver the scope and quality of products that this evolving marketplace requires.”

TAG WORDS

Arch Insurance International, Arch Syndicate 2012, transport, logistics, cargo, marine, P&C, Croome, O’Gorman

EDITOR’S NOTES

About Arch Insurance International

Arch Insurance International is part of Arch Capital Group Ltd. and 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.

About Arch Capital Group Ltd.

Arch Capital Group Ltd., a Bermuda-based company with approximately $15.8 billion in capital at 31 December, 2020, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.

Cautionary Note Regarding Forward-looking Statements

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward−looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward−looking statements, which reflect our current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward−looking statements.

Forward−looking statements can generally be identified by the use of forward−looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or their negative or variations or similar terminology. Forward−looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as consummate acquisitions and integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward−looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward−looking statement, whether as a result of new information, future events or otherwise.

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Source: Arch Insurance International

Media Contacts

Patrick Palmer 

Head of Marketing and Communications, Arch Insurance International

M +44 7900 743664

Nigel Allen or Suzanne Hirst

PR agency – Allen & Clapham

M +44 7988 478824 / M +44 7988 140357