Arch Insurance International has appointed James Barrett as deputy active underwriter for Lloyd’s Syndicate 2012, strengthening its underwriting leadership team in the London market.
Barrett will support James Croome, the syndicate’s active underwriter, across strategic planning, performance management and engagement with Lloyd’s. Alongside his new responsibilities, he has also been appointed head of specialty casualty.
In his expanded role, Barrett will continue overseeing Arch’s cyber and healthcare portfolios while working with Maggie Munns, head of executive assurance, on the strategic direction of the business.
Based in London, Barrett will report to Mike Lay, chief underwriting officer for Long Tail Lines.
Barrett joined Arch in 2018 and brings two decades of underwriting experience to the position. Before taking on his new responsibilities, he served as head of cyber and healthcare.
Hugh Sturgess, CEO of Arch Insurance International, said the appointment demonstrates the depth of underwriting expertise within the business. He added that Barrett is expected to make a significant contribution to the syndicate as Arch continues expanding its presence in the Lloyd’s market.
Appointment comes amid broader margin pressure
Barrett’s appointment comes as Arch Capital Group’s wider insurance operations face pressure from catastrophe losses and softer market pricing.
During the second quarter of 2026, Arch’s insurance segment reported a combined ratio of 98.5%, compared with 93.4% in the same period a year earlier. Underwriting income also declined significantly, falling to $27 million from $129 million.
Catastrophe losses contributed 8.0 percentage points to the segment’s loss ratio, compared with 2.9 percentage points in the prior-year quarter. Meanwhile, the underwriting expense ratio increased to 35.5% from 33.6%.
Excluding catastrophe losses, however, the segment delivered a stronger underlying result. The current accident-year combined ratio, excluding catastrophes, was 91.6%, a performance management described as strong.
The London cyber market, where Barrett continues to oversee part of Arch’s portfolio, is also experiencing competitive pricing conditions. Premiums across the Lockton portfolio declined by an average of 11% in 2025, while insurers have indicated that cyber rates are approaching the lower end of sustainable pricing. At the same time, claims activity has become increasingly significant.
For brokers placing cyber and healthcare risks with Arch, Barrett’s responsibility for both portfolios provides a single senior underwriting contact. The consolidated oversight could help maintain underwriting discipline despite continued pressure on market pricing.
