Arch Capital Group Ltd., the Bermuda-based re/insurer, announced that Nicolas Papadopoulo has been named chief executive officer and is joining the board of directors effective immediately.
Papadopoulo has held his current positions of president and chief underwriting officer since 2021 and previously served in various leadership and underwriting roles at the Company beginning in 2001.
Marc Grandisson, who has served as CEO since 2018 and has been with Arch since 2001, has decided to retire from the company.
"On behalf of the entire board, I would like to thank Marc for his leadership and significant contributions to Arch over the past two decades, during which Arch experienced outstanding growth and profitability and established itself as a market-leading, global specialty insurer," said John Pasquesi, chair of the board.
"Consistent with the Board's robust succession planning process, we believe Nicolas' experience and expertise make him the ideal person to lead Arch going forward to drive growth and value for all shareholders. We look forward to working with Nicolas as CEO, and the entire leadership team, as we position Arch for even greater success in the future," he added.
Papadopoulo has been the president and CUO of Arch and chief executive officer of Arch Worldwide Insurance Group since Jan. 1, 2021. From September 2017 to December 2020, Papadopoulo was chairman and CEO of Arch Worldwide Insurance Group and CUO for Property and Casualty Operations.
From July 2014 to September 2017, Papadopoulo was chairman and CEO of Arch Reinsurance Group at Arch Capital Group Ltd. He joined Arch Re Bermuda in December 2001 where he held a variety of underwriting roles. Papadopoulo graduated from École Polytechnique in France and École Nationale de la Statistique et de l'Administration Economique in France with a master's degree in statistics.
"I'm incredibly grateful for the opportunity to have been a part of the founding team that helped build and grow Arch to where it is today," said Grandisson. "I am proud to pass the baton to Nicolas, who is the right leader to take Arch into the future for our clients, employees and investors. Finally, thank you to our world-class employees for their hard work and passion, to our Board for their guidance, and to our clients who place their trust in us year after year."