Business mourns loss of life of former Arch Capital CEO Constantine Iordanou

Business mourns loss of life of former Arch Capital CEO Constantine Iordanou | Insurance coverage Enterprise America

Stalwart has made waves throughout many main world insurers

Industry mourns death of former Arch Capital CEO Constantine Iordanou

Insurance coverage Information

Kenneth Araullo

Constantine “Dinos” Iordanou, former chairman and chief government officer of Arch Capital Group, has died at age 74.

Iordanou grew up in Cyprus, the place his father, a police officer, allowed him appreciable freedom. He got here to the US in 1969 at age 19. After a 17-day boat journey, he arrived in New York with a suitcase and $250. He known as dwelling to let his household know he had arrived safely.

“The primary phrases out of my mouth have been, ‘Dad, I’ve arrived. I am protected,’” Iordanou stated to AM Finest. “His first phrases have been: ‘Did you register at college but? And did you get a job?’”

Iordanou obtained a job pumping fuel and enrolled in English language lessons. He was accepted into New York College and earned a level in aerospace engineering.

After working at Pratt & Whitney on jet engines, Iordanou joined American Worldwide Group Inc (AIG), which was hiring trainees with engineering backgrounds to guage submissions for satellite tv for pc insurance coverage protection.

“I did not have any expertise, however at the least I might go and analysis the reliability of various rockets — the Delta 3914, Delta 3912 — and advise the underwriters as to the possibilities of failure once they have been launching these automobiles,” Iordanou recalled. “I used to be an engineer serving to within the underwriting course of.”

Iordanou’s efforts at AIG earned him a spot within the firm’s “fast-track” program. His success on the firm led to a proposal from Berkshire Hathaway as president of its business casualty division. He then held numerous positions at Zurich earlier than becoming a member of Arch in 2002. He was named CEO in 2003 and chairman in 2009. He retired in September 2019.

In 2020, Iordanou launched Bermuda-based insurer and reinsurer Vantage with Greg Hendrick, CEO. He additionally served on the board of Verisk Analytics Inc and was senior unbiased director of the Financial institution of Cyprus.

Business mourning the stalwart’s loss of life

“The whole Arch household is saddened by the passing of former chair and CEO Dinos Iordanou,” Arch stated. “In his practically 15-year tenure as CEO, Dinos performed an integral position in growing Arch right into a market-leading firm with a worldwide presence in insurance coverage, reinsurance and mortgage insurance coverage. He was energetic, extremely beneficiant and a task mannequin for anybody in search of to make an enduring affect.”

Marc Grandisson, CEO of Arch Capital Group Ltd, additionally praised Iordanou, noting that “a lot of Arch’s success over the previous 20-plus years could be straight attributed to Dinos and his management.”

“Not solely was he an insurance coverage trade legend, however his management, tenaciousness and larger-than-life character influenced each me and the corporate in some ways. We’ve misplaced an ideal man. He shall be deeply missed,” Grandisson stated.

“Dinos was an amazing chief, mentor and trade icon, notably in his founding position of Arch Capital Group as a Bermuda-based powerhouse since its post-9/11 start-up,” Affiliation of British Insurers & Reinsurers (ABIR) president and CEO John M Huff stated.

“The market enormously benefited from Dinos’ steering as a long-time board member of ABIR — together with a time period as ABIR chair from 2011-2012. ABIR expresses its honest condolences to the Iordanou household and all these whose lives have been touched by this trade big,” Huff stated.

“It’s with heavy hearts that we mourn the lack of Constantine (Dinos) Iordanou, a former member of our board of administrators and pal to many Verisk colleagues,” Verisk stated. “Dinos was a visionary chief, who left an enduring affect on the insurance coverage trade and communities he supported within the U.S. and in his native Cyprus. As we bid farewell to such a unprecedented chief, colleague, and pal, we hope his household finds consolation in realizing his spirit lives on via the lives he touched, the legacy he created and the recollections they made with him.”

Iordanou is survived by his spouse, three youngsters, and grandchildren.

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