Executive vice president takes up the mantle
Arch Capital Group Ltd. (Arch), an insurance company, had announced that Seamus Fearon has been promoted to CEO, international mortgage for its Global Mortgage Group.
Who is Seamus Fearon?
Before taking up the mantle as CEO, Fearon was previously the executive vice president, CRT and European Markets for Arch’s Global Mortgage Group. He oversaw the GSE CRT business and helped grow the organization’s European Significant Risk Transfer business.
He joined Arch in 2012 and is a Fellow of the Institute and Faculty of Actuaries. He has a Bachelor of Science degree in Actuarial and Financial Mathematics from Dublin City University.
“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,” he added.
In his new role, Fearon will be responsible for the management of Arch’s mortgage operations in Australia and Europe as well as its government sponsored enterprise (GSE) credit risk transfer (CRT) and services business. He will also be tasked with diversifying the platform of Arch’s Global Mortgage Group.
Another executive taking on a new role
Aside from Fearon’s promotion, the previous CEO of Arch’s International Mortgage Group, Beau Franklin, will be taking up a new executive role at Arch.
Gansberg expressed his gratitude for Franklin’s contributions to the firm for the past decade.
“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,” said Gansberg.
“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,” he added.
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