Arch looks within to find CEO of international mortgage
Arch Capital Group has promoted Seamus Fearon to CEO, international mortgage for its market-leading global mortgage group.
Fearon, who succeeds Beau Franklin in the role, will have responsibility for managing Arch’s Australian and European mortgage operations as well as its Government Sponsored Enterprise credit risk transfer and services business.
Fearon was most recently executive vice president, CRT and European markets for Arch’s global mortgage group where he oversaw the GSE CRT business and grew the organisation’s European significant risk transfer business. In his new role, he will be charged with further diversifying the platform of Arch’s Global Mortgage Group.
“Diversifying our mortgage portfolio has been a key strategy for the Global Mortgage Group over the last several years, and Seamus has played a critical role in growing our international business,” said David Gansberg, CEO of Arch’s global mortgage group.
“Today, nearly 40% of our underwriting profit comes from non-US operations — compared to just over 10% in 2017. International business represents a significant opportunity for the Mortgage Group at Arch, and I believe Seamus’ demonstrated leadership, combined with his analytical and business acumen, can help us achieve our goals in those markets.”
Franklin will begin a new executive role at Arch MI’s parent company, Arch Capital Group Ltd.
“I want to thank Beau for his contributions over the past decade,” Gansberg said. “Under Beau’s leadership, the international mortgage group had many accomplishments including a first-of-its-kind capital relief transaction in Europe that helped establish our capabilities in that market.
“Beau was also instrumental in getting our Australian operation, Arch LMI, approved as a lenders mortgage insurer by the Australian Prudential Regulation Authority and helping grow our Australian business through the acquisition of Westpac Lenders Mortgage Insurance Limited. I know Beau will apply his skills to the benefit of the entire enterprise in his new role.”
Fearon joined Arch in 2012 and is a Fellow of the Institute and Faculty of Actuaries.
