Arch Capital hires Greg Habay to lead ILS partner relations

Arch Capital Group, the Bermuda headquartered insurance and reinsurance company, has hired Greg Habay, an executive with experience across insurance-linked securities (ILS) and reinsurance-linked investing, to a new position focused on developing third-party capital business and managing relations with ILS partners.

Arch Capital has a growing business in both sharing risk with third-party investors and servicing ILS partners, such as ILS managers or investors, with fronting and risk transformation part of the offering.

Arch has been helping third-party investors to directly access reinsurance risks and managing third-party capital since 2006, while it launched a fronting for ILS offering in 2019.

The company has now hired Greg Habay, who previously worked at companies including, reinsurance broker JLT Re, investment manager AQR and most recently hedge fund Third Point LLC.

At Arch, Habay has taken on the role of Managing Director, Head of Business Development and ILS Partners Relations at Arch Capital Group, an update to his Linkedin profile shows.

Maamoun Rajeh, CEO Arch Worldwide Reinsurance Group, commented on the hire, “We are thrilled to welcome Greg to Arch Re. Our ILS initiatives are nearly a decade in the making, and we have established a best-in-class track record across various strategies. Now, as we build on that legacy, we are laser focused on achieving an industry-leading ILS practice that will provide our clients with a diversified pool of capital that also leverages our superior underwriting performance.

“Over the years, our partners and investor base have continued to expand. Adding Greg’s well-known and highly specialized expertise to our exceptionally strong ILS team will help us tackle the next stage in our evolution—continuing to build and service both new and existing relationships.”

Most recently, Habay held the role of Managing Director, Institutional Business Development and Investor Relations at Third Point LLC hedge fund, a role he held for just over two years.

Prior to that, Habay spent over six and a half years at AQR Capital Management, where he worked on reinsurance related investments and initiatives.

Earlier in his career Habay had been in reinsurance broking, with a focus on ILS and instruments such as industry loss warranties (ILWs) at firms JLT Re, Collins and Guy Carpenter.

Habay’s hiring perhaps suggests a renewed push at Arch to bring in more ILS partnerships, but also likely reflects the success Arch Capital has already had in building out its third-party capital management and fronting for ILS operations.