Arch Capital Group has promoted Seamus Fearon to the newly created role of executive vice president of credit risk transfer (CRT) and services, within the global mortgage group (GMG).
Fearon remains in Bermuda and reports to David Gansberg, CEO of Arch’s GMG, assuming responsibility for Arch’s CRT business and growing its credit risk services offerings.
He was previously chief actuary in GMG, overseeing the capital management framework and the development of its analytics and modelling capabilities.
Arch said the creation of this new position underlined its focus on its CRT programs and supporting customers who would like to enter that growing market.
The promotion is subject to regulatory approval.
Gansberg said: “As the mortgage insurance market in the US becomes even more competitive, it’s important for Arch to diversify its mortgage business to ensure we remain at the forefront of the industry.”