Arch Insurance Bermuda unveils new incoming MD

Arch Insurance (Bermuda) has announced the appointment of Matthew Smith as managing director, with effect from 1 January 2024 following the retirement of Tony Hay.

According to the company Smith will be responsible for managing all aspects of Arch Insurance (Bermuda)’s direct insurance operations. He will report to Mike Lay, chief underwriting officer for long tail lines at Arch Insurance International.

Smith is a long-standing member of the Arch team in Bermuda having joined the company in 2002. He is currently senior vice president and underwriting manager for executive assurance, a position he has held since 2011. Prior to joining Arch, he was a senior professional liability underwriter at Chubb.

Hugh Sturgess, chief executive, Arch Insurance International, said: “I am delighted to announce Matt’s appointment. The fact that we are able to promote from within for this top position speaks to the calibre and depth of our Bermuda team. Bermuda is a core market for Arch, and we have invested heavily in our talent base in order to become one of the leading insurance companies on the island.”