Arch Capital Group Ltd. Names Marc Grandisson President and Chief Operating Officer
November 11 2015 - 5:00AM
Business Wire
Arch Capital Group Ltd. [NASDAQ: ACGL] today announced that Marc
Grandisson will be promoted to the position of President and Chief
Operating Officer, effective January 1, 2016. Mr. Grandisson joined
the Company in 2001 and currently serves as Chairman and Chief
Executive Officer of Arch Worldwide Reinsurance and Mortgage
Groups. In his new role, Mr. Grandisson will continue to report to
Dinos Iordanou, Chairman of the Board and Chief Executive Officer
of ACGL, and will have responsibility for all of the Company’s
operating units, insurance, reinsurance and mortgage. All other
corporate functions, finance, investments and legal, will continue
to report to Mr. Iordanou.
Mr. Iordanou commented, “The Board of Directors and I would like
to congratulate Marc on his new role. He has done an outstanding
job for us since joining the Company over 14 years ago, and his
promotion is well deserved. With Marc’s guidance, our reinsurance
and mortgage businesses have become significant participants in the
marketplace, and he is an important member of our senior leadership
team. Promoting from within the Company is confirmation of Arch’s
commitment to our people, the importance we place on our unique
culture, and the strength and depth of the management team we have
built at Arch.”
Mr. Grandisson said, “I am excited and honored to take on this
new role. I look forward to continuing to work closely with Dinos,
our strong senior management team and the talented staff across our
entire organization to continue to develop and expand our business
and execute our long-term strategic plan. With Dave McElroy,
Nicolas Papadopoulo and Andrew Rippert overseeing our insurance,
reinsurance and mortgage operations, respectively, we have an
extremely deep management team and I am very pleased that they will
lead our business into the future.”
Mr. Grandisson, age 48, currently serves as Chairman and Chief
Executive Officer of Arch Worldwide Reinsurance and Mortgage Groups
and has been a member of the Company's Executive Strategy
Committee. Prior to that, he served in various leadership roles at
Arch Reinsurance Ltd., including as President and Chief Executive
Officer. Before joining the Company, Mr. Grandisson held various
senior positions at Berkshire Hathaway and F&G Re. Mr.
Grandisson holds an M.B.A. from The Wharton School of the
University of Pennsylvania, and is also a Fellow of the Casualty
Actuarial Society and a Member of the American Academy of
Actuaries.
Arch Capital Group Ltd., a Bermuda-based company with
approximately $7.05 billion in capital at September 30, 2015,
provides insurance and reinsurance 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151111005159/en/
Arch Capital Group Ltd.Mark D. Lyons (441) 278-9250
Arch Capital (NASDAQ:ACGL)
Historical Stock Chart
From Apr 2024 to May 2024
Arch Capital (NASDAQ:ACGL)
Historical Stock Chart
From May 2023 to May 2024