NEW YORK--(BUSINESS WIRE)--Arch Insurance Group, a subsidiary of Arch Capital Group Ltd., announced today that David M. Finkelstein has been named Executive Vice President of Arch’s Surety Division effective May 3, 2010.
Based in Philadelphia, Mr. Finkelstein will be responsible for the overall direction of the Surety division, overseeing the underwriting and operations of all Arch Surety offices nationwide.
Mr. Finkelstein will replace current Surety EVP-Mark C. Vonnahme, who will be returning to teaching as a professor and Director of the MS in Finance at the University of Illinois in the fall. Mr. Finkelstein will report to David McElroy, President of the Financial & Professional Liability Products Group. “David brings strong leadership and extensive experience from the Surety discipline. Arch remains committed to the Surety marketplace and we believe David’s addition will help us to deliver on our mission of providing effective Surety solutions for our distribution partners and their clients,” said McElroy.
Mr. Finkelstein most recently served as Senior Vice President & Chief Underwriting Officer of Liberty Mutual’s Surety department. There, he led the Contract underwriting strategy and home office nationwide operations. Prior to his seven years at Liberty, Mr. Finkelstein was Vice President of Surety at XL Specialty Surety Inc. where he was responsible for the Surety division’s Southeastern and Western regions. Before joining XL, he was Director, Home Office Surety at CGU (formerly General Accident Insurance Company of America) and prior to CGU, he was Regional Bond Manager at USF&G.
He is a graduate of the University of Maryland with a B.S. in Finance and holds a CPCU designation.
Arch Insurance Group Inc. is a member of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. 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 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.