Arch Insurance Europe Appoints Shulman CEO
Arch Insurance Company [Europe] Limited announced that Matthew Shulman will be appointed President and Chief Executive Officer, effective 1 July 2016.
Mr. Shulman joined Arch Insurance U.S. in 2009 and currently serves as Executive Vice President, responsible for its Executive Assurance and Professional Liability underwriting units.
Mr. Shulman will succeed James Weatherstone, who helped build Arch Insurance Europe over the past 12 years and will remain with the company through 31 December 2016 to facilitate the leadership transition. These changes are subject to applicable regulatory approvals.
Mr. Shulman, age 42, has over 20 years of experience in the insurance industry. Prior to joining Arch, he served in various senior underwriting and executive positions, with a focus on global financial and professional liability lines, which are key product offerings of Arch Insurance Europe.
When Mr. Shulman assumes his new position, the Executive Assurance and Professional Liability underwriting units of Arch Insurance U.S. will continue to be subject to the oversight of John Rafferty, Executive Vice President, Executive Assurance, Healthcare and Professional Liability.
David McElroy, Chairman and Chief Executive Officer of Arch Worldwide Insurance Group, commented, “Matt has done an outstanding job for us since joining the Company seven years ago, and his promotion is well deserved.
“Promoting from within the Company is another indication of the importance we place on our unique culture and the strength and depth of our management team. We are also grateful to James for his contributions over the years. With his guidance, Arch Insurance Europe has become a significant participant in the marketplace, and we wish him the best in his future endeavors.”
Arch Insurance Europe is a subsidiary of Arch Capital Group Ltd., a Bermuda-based company with approximately $7.3 billion in capital at March 31, 2016, that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries.
