Business
Arch Capital Group Names Seamus Fearon CEO, International Mortgage
Fearon now responsible for all international mortgage operations. Beau Franklin takes executive role at Arch Capital Group Ltd. PEMBROKE, Bermuda--(BUSINESS
About this update from Arch Capital Group Ltd.
[{"type":"text","content":"\nFearon now responsible for all international mortgage operations. Beau Franklin takes executive role at Arch Capital Group Ltd.\n\n\n PEMBROKE, Bermuda--(BUSINESS WIRE)--\nArch Capital Group Ltd. (Arch) today announced Seamus Fearon has been promoted to CEO, International Mortgage for the Global Mortgage Group. In this role, Fearon will have responsibility for managing Arch’s Australian and European mortgage operations as well as its Government Sponsored Enterprise (GSE) Credit Risk Transfer (CRT) and Services business.\n\n\nFearon was most recently Executive Vice President, CRT and European Markets for Arch’s Global Mortgage Group where he oversaw the GSE CRT business and grew the organization’s European Significant Risk Transfer business. In his new role, Fearon will be charged with further diversifying the platform of Arch’s Global Mortgage Group — the global leader in aggregating, managing and syndicating mortgage credit risk.\n\n\n“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-U.S. 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.”\n\n\nBeau Franklin, who previously served as the CEO of Arch’s International Mortgage Group, will begin a new executive role at Arch MI’s parent company, Arch Capital Group Ltd.\n\n\n“I want to thank Beau for his contributions over the past decade,” Gansberg said. “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. 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 e...