Arch Names Bob Finelli Sr. Vice President of Global Property

NEW YORK--(BUSINESS WIRE)--June 3, 2004--Arch Insurance Group, a division of Arch Capital Group Ltd., today announced that Bob Finelli has been named senior vice president for their Global Property division, effective May 24.

Mr. Finelli's roles and responsibilities include overseeing the day to day and long-term operations of Arch's Global Property division, including its strategic planning and business development.

“I am very pleased to have Bob join the Global Property team. His vast industry expertise in this field is a tremendous asset to Arch as we continue to expand our product offerings in the Global Property arena.”

Tom Kaiser, president, Property, Energy and Marine, Arch Insurance Group, notes:

"I am very pleased to have Bob join the Global Property team. His vast industry expertise in this field is a tremendous asset to Arch as we continue to expand our product offerings in the Global Property arena."

Prior to joining Arch, Mr. Finelli worked for American International Group. His most recent position there was as Head of AIU's Latin American Energy division. He also served as vice president and product line manager for Process Industries and Boiler & Machinery with the same division. Before going to AIG, Bob worked at the Protection Mutual Insurance Company as well as the Factory Mutual Engineering Association.

Mr. Finelli is based in New York City at Arch Insurance Group's One Liberty Plaza headquarters and reports to Mr. Kaiser.

He graduated from the New Jersey Institute of Technology with a BS in Mechanical Engineering.

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.