Matthew Smith is an internal appointment to managing director for the insurer, after the retirement of Tony Hay.
Arch Insurance in Bermuda has announced the appointment of Matthew Smith as its managing director.
He will report to Mike Lay, chief underwriting officer for long tail lines at Arch Insurance International.
The appointment is effective from 1 January 2024 following the retirement of Tony Hay.
Smith will be responsible for managing all aspects of Arch Insurance Bermuda’s direct insurance operations.
Smith is a long-standing member of the Arch team in Bermuda, having joined the company in 2002.
Since 2011, he has been underwriting manager for executive assurance.
Before joining Arch, he was a senior professional liability underwriter at Chubb.
Hugh Sturgess, CEO of Arch Insurance International, said: “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.
“The fact that we are able to promote from within for this top position speaks to the calibre and depth of our Bermuda team.”
Hay added: “Matt is an exceptional underwriter and someone who truly embodies the values and principles that underpin Arch’s culture and our commitment to brokers.
“He has spearheaded the development of our executive assurance practice and been central to our overall market success.”