Arch Insurance Group Expands its Energy Operation in London; Names William P. O'Malley Jr. Vice President, Energy

NEW YORK--(BUSINESS WIRE)--June 24, 2003--Arch Insurance Group, a division of Arch Capital Group Ltd., today announced that William P. O'Malley Jr. has been named to the position of Vice President, Energy, beginning June 28. In his new role, Mr. O'Malley will focus on growing Arch's energy sector business in the London insurance market. Mr. O'Malley will be based in the office of Arch's U.K. subsidiary in London.

Mr. O'Malley joins Arch with more than 18 years of expertise in engineering, technical assessment, claims and underwriting for the Energy/Technical Lines Insurance segment. Prior to Arch, Mr. O'Malley was Head of Underwriting for ACE Global Markets, Energy (On/Offshore), based in London. During his career, Mr. O'Malley has also held various positions within the CIGNA/ACE organizations in offices throughout the world. He is also active with various market and industry initiatives and forums that affect the energy insurance marketplace.

“We are very pleased to be able to have a person of Bill's stature join us at Arch. His talent and abilities will contribute to the growth of our position within the European energy market. He is a great addition to our team”

"We are very pleased to be able to have a person of Bill's stature join us at Arch. His talent and abilities will contribute to the growth of our position within the European energy market. He is a great addition to our team," said Thomas Kaiser, President of Property, Energy and Marine division of Arch Insurance Group.

Arch Insurance Group is a division of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. Arch Insurance Group's principal insurance subsidiaries -- Arch Insurance Company, Arch Specialty Insurance Company and Arch Excess & Surplus Insurance Company -- are rated A- (Excellent) by A.M. Best. For more information, visit www.archinsurance.com.

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 (collectively, the "Company") may include forward-looking statements which reflect the Company's current views with respect to future events and financial performance. Forward-looking statements involve the Company's current assessment of risks and uncertainties, which may cause actual events and results and prospects to differ materially from those expressed or implied in these statements. Certain information regarding such risks and uncertainties is set forth in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.