Arch Insurance bolsters cyber underwriting with double hire
Bermuda-based Arch Capital Group’s insurance arm has hired senior cyber underwriters Jose Carlos Jiménez Fernández and Rafael Ortiz Losada from AIG and Tokio Marine.
The duo will join Arch Insurance (EU) dac, which provides specialist property and casualty insurance solutions within the European Union.
Both will be based in Madrid and will be responsible for growing Arch’s European cyber insurance portfolio, writing primary and excess coverage across a broad range of sectors, including energy and utilities, financial institutions, and manufacturing. They will have a territorial focus on Spain and Portugal.
Fernández joins Arch from Tokio Marine HCC, where he was most recently cyber manager for Southern Europe, the Middle East and Africa, and Latin America. Prior to that, he was a senior cyber underwriter at AIG and has also held cyber risk management and security roles at Deloitte, PwC, and EY.
Losada joins from AIG, where he was most recently a senior cyber underwriter based in Madrid. Prior to this, he worked at Deloitte for over five years, rising to the position of senior consultant, cyber risk.
Matthew Brophy, chief underwriting officer of Arch Insurance (EU) dac, said: “Jose and Rafael’s combined cyber security expertise, local market knowledge, and breadth of relationships make them ideal appointments as we open our operations in Spain. We see considerable opportunity to expand our cyber proposition for our brokers in Europe as well as strengthen our overall position in the insurance market across the region. In their new roles, Jose and Rafael will play a central role in facilitating this.”
Nicolas Papadopoulo, chief underwriting officer of Arch Capital Group and chief executive officer of Arch Worldwide Insurance Group, added: “Today’s announcement is another important milestone in our European expansion plans. The establishment of operations in Spain will enable us to better service our brokers in the region and bring critical local-market knowledge to support our continued growth.”