Arch to open North Carolina hub

Arch Capital Group Ltd. is opening an operational hub Raleigh, North Carolina, according to a July 24 statement from the state governor’s office.

The move will create 365 new jobs over four years, and Arch plans to invest $12.9 million in North Carolina by the end of 2019, the statement said.

Staffing decisions by the Pembroke, Bermuda-based insurer and reinsurer have yet to be made, a company spokesman told Business Insurance.

Arch employs approximately 575 people in North Carolina, and the new hub in Wake County will include a wide variety of professional roles from entry level to executive, the governor’s statement said.