Arch Insurance International has appointed James Barrett (pictured) as deputy active underwriter for Lloyd's Syndicate 2012, the insurer announced Thursday.
In the role, Barrett deputises for James Croome, active underwriter, across strategic planning, performance management and engagement with Lloyd's for the syndicate. He also becomes head of specialty casualty, retaining oversight of Arch's cyber and healthcare portfolios while working alongside Maggie Munns, head of executive assurance, on strategic oversight of that book. Barrett is based in London and reports to Mike Lay, chief underwriting officer for Long Tail Lines.
Barrett joined Arch in 2018 and brings 20 years of underwriting experience to the role, having most recently served as head of cyber and healthcare.
"James is an exceptional technical underwriter with a proven track record of leadership in complex classes,” Lay said. “The Lloyd's market is a central part of our underwriting strategy and, working alongside James Croome, he will play an important part to ensure we deliver our strategic goals for the syndicate and continue to respond to evolving market conditions."
Hugh Sturgess, CEO of Arch Insurance International, added: "James' appointment reflects the strength and depth of underwriting talent we have within Arch. I have every confidence that he will make a significant impact and help drive the syndicate forward as we continue to build our presence in the Lloyd's market."
Barrett takes on the role as Arch Capital Group's wider insurance segment absorbs pressure from catastrophe losses and softening rates. In the second quarter of 2026, the insurance segment posted a combined ratio of 98.5%, up from 93.4% a year earlier, with underwriting income falling sharply to $27 million from $129 million in the prior-year period. Catastrophic activity added 8.0 percentage points to the segment's loss ratio, against 2.9 points a year earlier, while the underwriting expense ratio rose to 35.5% from 33.6%. Stripping out catastrophes, the segment's underlying performance held up better: the current accident-year ex-catastrophe combined ratio came in at 91.6%, which management described as strong.
Group chief executive Nicolas Papadopoulo told analysts Arch is entering the early stages of a softer, more competitive insurance market, particularly in property and other short-tail lines, though he said the company's diversified operations still offer opportunities to deploy capital where returns remain attractive. Arch does not separately disclose cyber premium volumes or loss ratios for Syndicate 2012.
Separately, the broader London cyber market Barrett now oversees a slice of remains price-competitive: premiums across the Lockton portfolio fell by an average of 11% in 2025, and insurers believe rates are nearing the lower end of what is sustainable while claims activity is more pronounced than ever.
For brokers placing cyber and healthcare risk with Arch, Barrett's consolidated authority over both portfolios gives them a single senior underwriter to engage with — a combination that can tighten underwriting discipline even where headline market pricing is soft.
