Arch Capital Group has promoted Seamus Fearon to the position of chief executive, international mortgage, in the company’s Global Mortgage Group.

He was most recently executive vice-president, credit risk transfer and European markets, Global Mortgage Group.

Fearon, a Dublin City University graduate, started with the company in 2012 and is a Fellow of the Institute and Faculty of Actuaries.

He replaces Beau Franklin, who is taking on a new role at the parent company.

In his new job, Fearon is tasked with driving diversification of the company’s global mortgage group business.

“Diversifying our mortgage portfolio has been a key strategy for the Global Mortgage Group over the last several years, and Seamus has played a critical role in growing our international business,” said David Gansberg, chief executive of the Global Mortgage Group.

“Today, nearly 40 per cent of our underwriting profit comes from non-US operations — compared to just over 10 per cent in 2017.

“International business represents a significant opportunity for the Mortgage Group at Arch, and I believe Seamus’ demonstrated leadership, combined with his analytical and business acumen, can help us achieve our goals in those markets.”

Founded in 2005, Bermuda-based, Nasdaq-listed Arch Capital Group writes insurance, reinsurance and mortgage insurance globally. It has a $30 billion market capitalisation.