Industry mourns former Arch Capital CEO Constantine Iordanou | Insurance business America
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Insurance News
By Kenneth Araullo
Constantine “Dinos” Iordanou, former chairman and CEO of Arch Capital Group, has died at the age of 74.
Iordanou grew up in Cyprus, where his father, a police officer, gave him great freedom. He came to the United States in 1969 at the age of 19. After a 17-day boat trip, he arrived in New York with a suitcase and $250. He called home to let his family know he had arrived safely.
“The first words out of my mouth were: ‘Dad, I have arrived. “I’m safe,” Iordanou told AM Best. “His first words were, ‘Have you registered at school yet?’ And did you get a job?’”
Iordanou got a job as a gas station worker and enrolled in English courses. He was accepted to New York University and earned a degree in aerospace engineering.
After working on jet engines at Pratt & Whitney, Iordanou moved to American International Group Inc (AIG), which hired trainees with engineering backgrounds to evaluate applications for satellite insurance coverage.
“I had no experience, but at least I was able to study the reliability of various rockets – Delta 3914, Delta 3912 – and advise the underwriters on the likelihood of failure when they launched these vehicles,” recalls Iordanou. “I was an engineer and helped with the underwriting process.”
Iordanou’s efforts at AIG earned him a spot in the company’s “Fast Track” program. His success at the company led to an offer from Berkshire Hathaway as president of its commercial casualty division. He then held various positions at Zurich before joining Arch in 2002. He was named CEO in 2003 and chairman in 2009. He retired in September 2019.
In 2020, Iordanou founded Bermuda-based insurer and reinsurer Vantage with Greg Hendrick, CEO. He was also a board member of Verisk Analytics Inc and a senior independent director of the Bank of Cyprus.
The industry mourns the death of the loyal supporter
“The entire Arch family is saddened by the passing of former Chairman and CEO Dinos Iordanou,” said Arch. “During his nearly 15-year tenure as CEO, Dinos played an integral role in developing Arch into a market-leading company with a global presence in the areas of insurance, reinsurance and mortgage insurance. He was full of life, incredibly generous and a role model for anyone who wanted to make a lasting impression.”
Arch Capital Group Ltd CEO Marc Grandisson also praised Iordanou, noting that “much of Arch’s success over the last 20-plus years can be directly attributed to Dinos and its leadership.”
“Not only was he a legend in the insurance industry, but his leadership, tenacity and larger-than-life personality influenced me and the company in many ways. We have lost a great man. We will miss him very much,” said Grandisson.
“Dinos has been an outstanding leader, mentor and industry icon, particularly in his founding role at Arch Capital Group as a Bermuda-based powerhouse since its inception post-9/11,” said the President of the Association of British Insurers & Reinsurers (ABIR). said CEO John M. Huff.
“The market has benefited greatly from Dinos’ leadership as a long-time board member of ABIR – including a term as ABIR Chairman from 2011 to 2012. ABIR extends its sincerest condolences to the Iordanou family and everyone whose lives have been touched by this industry giant,” Huff said.
“It is with heavy hearts that we mourn the loss of Constantine (Dinos) Iordanou, a former member of our board and friend to many Verisk colleagues,” Verisk said. “Dinos was a visionary leader who left a lasting impact on the insurance industry and the communities he served in the United States and in his native Cyprus. As we say goodbye to such an extraordinary leader, colleague and friend, we hope his family finds comfort in knowing that his spirit lives through the lives he touched, the legacy he created and the memories what they did with him lives on.”
Iordanou is survived by his wife, three children and grandchildren.
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2024-06-18 15:58:27
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