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DUBLIN—Maamoun Rajeh will become president and CEO of Arch Reinsurance Europe Underwriting Ltd. effective July 1, Arch Re Europe announced Tuesday.
Mr. Rajeh assumes his new position from Hamilton, Bermuda-based Arch Reinsurance Ltd. where he has served as chief underwriting officer since 2005. Arch Re Europe has expanded the scope of its operations recently, completing an acquisition of Ariel Re's Zurich-based credit and surety reinsurance operations in April and announcing plans in 2011 to begin underwriting crop insurance on a worldwide basis.
“Maamoun joins Arch Re Europe at an important time, which underlies our confidence in his abilities and our commitment to the European market," Marc Grandisson, chairman of Arch Worldwide Reinsurance Group, said in a statement.
Mr. Rajeh will succeed Helmut Sohler, who will assume the position of vice chairman of Arch Worldwide Reinsurance Group. "I look forward to continuing to work closely with Helmut in his new role with the Arch Worldwide Reinsurance Group, providing strategic advice to all of us,” Mr. Grandisson added.
HAMILTON, Bermuda—Arch Capital Group Ltd.'s net income for 2011 dropped 49.7% from that of a year earlier to $410.5 million, Arch reported Tuesday.