Arch Insurance (EU) dac, part of Bermudian-based Arch Capital Group, has promoted Duncan Smith to the post of chief executive.

The company said he was responsible for leading the executive management team of AIEU and delivering on the company’s growth plans for continental Europe through its expanding network of branch offices.

AIEU provides specialist insurance solutions within the European Union, writing insurance business through its property & casualty and mortgage divisions and providing capacity to managing general agents through its Alwyn Europe division.

Mr Smith joined Arch in 2005 and was most recently deputy chief executive of AIEU. Before that, he was head of professional lines for Arch Insurance International.

His appointment follows the decision by Soren Scheuer to step down as chief executive of AIEU, although he will remain on the board of the company as a non-executive director, subject to regulatory approval.