Terry will be responsible for managing the underwriting activities across the Arch A&H portfolio. He will report to Chris Rackliffe, head of contingency, and has been at the firm since 2004.

Raeburn joined Arch in 2019 following its acquisition of Barbican and was most recently an underwriter for the company.

Lino Leoni, chief underwriting officer, Short Tail Lines said: “The promotions of Seb and Georgina show the incredibly strong talent within our A&H team. Seb is an outstanding underwriter and highly respected in the market, both by our peers and brokers, making him the perfect choice to lead the team. I am confident that under his leadership we will continue to grow our relevance and deliver high quality service for our brokers. I’m also delighted for Georgina’s well-deserved promotion which reflects both her technical expertise and strength of broker relationships.

"Finally, I would like to thank Dennis for his considerable contribution to Arch and to the team’s success. We wish him the very best for his retirement."

Arch Insurance North America (Arch Insurance), a division of Arch Capital Group (Arch Capital), signed a master transaction agreement to acquire the US assets of AGCS last month.

The deal involves the sale of AGCS’ US MidCorp and entertainment insurance businesses, along with select specialty insurance programmes, for $450m in cash. 

Arch will take on around $2bn in loss reserves linked to the acquired operations.  

The total transaction value is $1.4bn, which includes the cash consideration and $1bn in capital support for the acquired assets.