Arch Insurance Group Announces Executive Management Changes

NEW YORK--(BUSINESS WIRE)--Arch Insurance Group, a division of Arch Capital Group Ltd., announced today various executive personnel developments that have taken shape in recent weeks.

“We are entering a new market. We will need to refine our strategies while staying true to the Arch business model. While many challenges do face our Casualty operation, it is both an exciting and rewarding proposition for the division”

RETIREMENT

Elaine Trischetta- EVP, Casualty, retired on May 31st from Arch --capping an impressive 30+ year career. She joined Arch nine years ago. Prior to Arch, she held EVP level positions at Zurich North America, ACE USA, Reliance National and was a manager of global excess casualty for the AIU division of AIG.

Mark D. Lyons, Chairman & CEO, Arch Worldwide Insurance Group, commented: “Elaine has made many significant contributions during her tenure at Arch. She built the division from scratch as to personnel, product offerings, risk appetite, broker relationships and reinsurance. I want to personally thank Elaine for the advancements she drove in our Casualty operation during some of the toughest Casualty markets our industry has seen. She has been a dedicated Arch executive for nine years, a strong leader to her team, and she will be greatly missed.”

CASUALTY UNIT & REGIONS ADVANCE ARCH’S STRATEGY WITH KEY APPOINTMENTS

As Trischetta’s retirement opened the Casualty leadership role, Lyons announced various executive appointments/promotions:

“With Elaine’s decision to retire, and per our practice of continuous re-evaluation of our overall operations, we reviewed our resources internally to identify the appropriate management alignments,” said Lyons.

“I am extremely pleased to announce that John Edack, Senior Executive Vice President, will assume the executive management role of running the Casualty division, effective June 1. I have every confidence in John that he will bring his vast experience of product and distribution to bear,” said Lyons. Mike Murphy, President, Property/Casualty at Arch added: “I am pleased to welcome John Edack into his new role—I believe his specialty casualty and distribution expertise will help Arch as we do battle in this difficult market.”

Edack joined Arch in 2002. He has held senior level distribution and regional roles and in 2007, was named chief regional officer (in addition to his western region REVP role and head of marketing). Edack has over 25 years of industry experience having held various underwriting and management positions. The move to head of Casualty leverages his background in specialty casualty and the wholesale distribution channel. Prior to Arch, Edack worked at ACE USA / Westchester Specialty Group, where he managed the E&S Casualty business.

“I greatly look forward to shaping the next chapter and building on the successes of the Casualty division,” said Edack. “We are entering a new market. We will need to refine our strategies while staying true to the Arch business model. While many challenges do face our Casualty operation, it is both an exciting and rewarding proposition for the division,” he said.

Lyons continued the announcement of additional executive moves:

“With John’s move out of the Chief Regional Officer role, Bill Casey, REVP-Northeast Region, will assume the Chief Regional Officer position, reporting to me, as well as retain his northeast region responsibility,” said Lyons. “I am confident Bill will also do a great job for us and leverage the considerable talent that exists within all of our regional executives.”

Casey has over 30 years of industry experience. He joined Arch two years ago from Zurich. During his 10 years there, Casey was: deputy head of distribution, senior vice president & director of field operations for Zurich Specialties, national marketing director for all regions, and northeast regional vice president in corporate marketing.

Additionally, John Washington will become the Western Regional Executive, thereby assuming John Edack’s prior regional management role. John Edack noted: “John Washington has been a tireless advocate for Arch since the first day he started with us, and I look forward to his continued energy and marketplace presence.” Washington has over 23 years of industry experience. Prior to joining Arch in 2002, Washington spent the previous 16 years with BISYS, ACE, AIG, Marsh and Victor O. Schinnerer. He joined Arch as a Professional Liability underwriter and has most recently been the business development officer & branch manager in the Western Region.

“The changes we have undertaken, leverage the existing strong industry talent we have at Arch, and position us to deliver against our business strategies in this difficult and evolving market,” said Lyons.

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.