Trade mourns demise of former Arch Capital CEO Constantine Iordanou

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 USA in 1969 at age 19. After a 17-day boat journey, he arrived in New York with a suitcase and $250. He referred to as house to let his household know he had arrived safely.

“The primary phrases out of my mouth had been, ‘Dad, I’ve arrived. I am protected,’” Iordanou mentioned to AM Finest. “His first phrases had 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 judge submissions for satellite tv for pc insurance coverage protection.

“I did not have any expertise, however at the very least I may go and analysis the reliability of various rockets — the Delta 3914, Delta 3912 — and advise the underwriters as to the chances of failure after they had been launching these autos,” 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 suggestion from Berkshire Hathaway as president of its industrial casualty division. He then held varied 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 impartial director of the Financial institution of Cyprus.

Trade mourning the stalwart’s demise

“The complete Arch household is saddened by the passing of former chair and CEO Dinos Iordanou,” Arch mentioned. “In his almost 15-year tenure as CEO, Dinos performed an integral position in creating 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 searching for to make a long-lasting influence.”

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 may be straight attributed to Dinos and his management.”

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

“Dinos was an incredible chief, mentor and business icon, significantly 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 mentioned.

“The market drastically 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 had been touched by this business big,” Huff mentioned.

“It’s with heavy hearts that we mourn the lack of Constantine (Dinos) Iordanou, a former member of our board of administrators and good friend to many Verisk colleagues,” Verisk mentioned. “Dinos was a visionary chief, who left a long-lasting influence on the insurance coverage business and communities he supported within the U.S. and in his native Cyprus. As we bid farewell to such a rare chief, colleague, and good friend, we hope his household finds consolation in figuring out his spirit lives on by way of the lives he touched, the legacy he created and the recollections they made with him.”

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

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