Arch Capital Group Ltd. Announces Worldwide Reinsurance Group Senior Management Changes
October 11 2017 - 8:44AM
Business Wire
Arch Capital Group Ltd. [NASDAQ: ACGL] today announced a number
of senior management changes in its Worldwide Reinsurance Group.
Jerome Halgan, currently the President and Chief Executive Officer
of Arch Reinsurance Company in the U.S., has been promoted to the
role of Chief Executive Officer of Arch Reinsurance Ltd. in
Bermuda. Matt Dragonetti, currently Head of Property at Arch
Reinsurance Ltd., will take on the additional role of President. In
another change at Arch Reinsurance Ltd., Michelle Seymour-Smith
will assume the role of Chief Operating Officer while maintaining
her responsibilities as Chief Financial Officer.
In the U.S., Ken Vivian has been promoted to the newly created
role of Chief Executive Officer of Arch Re North America. In this
capacity, Mr. Vivian will maintain his current role as Chief
Executive Officer of Arch Re Facultative Underwriters Inc., but
also assume the Chief Executive Officer role with Arch Reinsurance
Company. Peder Moller returns to Arch Reinsurance Company to serve
as Chief Underwriting Officer.
Finally, Pierre Jal, currently the Chief Underwriting Officer of
Arch Reinsurance Europe Underwriting dac, our European reinsurance
operations, will relocate to Bermuda to join Arch Reinsurance Ltd.
as the Global Chief Underwriting Officer. The proposed changes are
subject to all necessary regulatory approvals.
Maamoun Rajeh, the Chairman and Chief Executive Officer of Arch
Worldwide Reinsurance Group, commented: “My sincere congratulations
to Jerome, Matt, Michelle, Ken, Peder and Pierre. In their hands,
our reinsurance companies will no doubt live up to our aspirations
to continuously expand the possible for our clients and brokers. We
at Arch could not be more thrilled that these promotions are
internal. We are fortunate to have such depth of talent within our
team. We will begin to implement these changes early next year as
we maintain our focus on the upcoming renewal season in the fourth
quarter.”
Arch Capital Group Ltd., a Bermuda-based company with
approximately $11.13 billion in capital at June 30, 2017, provides
insurance, reinsurance and mortgage insurance on a worldwide basis
through its wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a
"safe harbor" for forward−looking statements. This release or any
other written or oral statements made by or on behalf of Arch
Capital Group Ltd. and its subsidiaries may include forward−looking
statements, which reflect our current views with respect to future
events and financial performance. All statements other than
statements of historical fact included in or incorporated by
reference in this release are forward−looking statements.
Forward−looking statements can generally be identified by the
use of forward−looking terminology such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe" or "continue" or
their negative or variations or similar terminology.
Forward−looking statements involve our current assessment of risks
and uncertainties. Actual events and results may differ materially
from those expressed or implied in these statements. A
non-exclusive list of the important factors that could cause actual
results to differ materially from those in such forward-looking
statements includes the following: adverse general economic and
market conditions; increased competition; pricing and policy term
trends; fluctuations in the actions of rating agencies and our
ability to maintain and improve our ratings; investment
performance; the loss of key personnel; the adequacy of our loss
reserves, severity and/or frequency of losses, greater than
expected loss ratios and adverse development on claim and/or claim
expense liabilities; greater frequency or severity of unpredictable
natural and man-made catastrophic events; the impact of acts
of terrorism and acts of war; changes in regulations and/or tax
laws in the United States or elsewhere; our ability to successfully
integrate, establish and maintain operating procedures as well as
integrate the businesses we have acquired or may acquire into the
existing operations; changes in accounting principles or policies;
material differences between actual and expected assessments for
guaranty funds and mandatory pooling arrangements; availability and
cost to us of reinsurance to manage our gross and net exposures;
the failure of others to meet their obligations to us; and other
factors identified in our filings with the U.S. Securities and
Exchange Commission.
The foregoing review of important factors should not be
construed as exhaustive and should be read in conjunction with
other cautionary statements that are included herein or elsewhere.
All subsequent written and oral forward−looking statements
attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. We
undertake no obligation to publicly update or revise any
forward−looking statement, whether as a result of new information,
future events or otherwise.
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Arch Capital Group Ltd.Mark D. Lyons, (441) 278-9250
Arch Capital (NASDAQ:ACGL)
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