HAMILTON, Bermuda--(BUSINESS WIRE)--
Arch Capital Group Ltd. [NASDAQ: ACGL] today announced François Morin
will assume the role of Executive Vice President and Chief Financial
Officer of the Company effective May 25, 2018. He will report to Marc
Grandisson, President and Chief Executive Officer of ACGL. Mr. Morin
will replace outgoing Chief Financial Officer Mark Lyons, who is leaving
Arch to become Senior Vice President and Chief Actuary, General
Insurance at AIG in New York.
Mr. Morin joined the Company in 2011 and currently serves as Senior Vice
President, Chief Risk Officer and Chief Actuary of ACGL. Prior to
joining Arch, Mr. Morin served in various roles for Towers Watson & Co.
and its predecessor firm Towers, Perrin, Forster & Crosby, including its
actuarial division, Tillinghast, where he led the firm’s engagement with
ACGL.
Mr. Grandisson said, “Anyone who has followed our Company knows one of
Arch’s strengths is its deep pool of talent. François’ extensive
experience leading Arch’s actuarial and enterprise risk management
practices gives him valuable perspective into all financial and capital
aspects of our Company.”
Mr. Morin said, “Arch has consistently delivered on its core strategy of
being a leader in specialty lines. I look forward to working with Marc
and the executive leadership team as we strive to continue to deliver
superior returns over the long term, consistent with the record of
financial performance we have demonstrated since our founding.”
Grandisson continued, “Mark and I have worked together since the early
days of Arch in 2002. In addition to the significant contributions he
has made to our performance over the years, he has been a great
colleague and friend. We wish him all the best.”
Mr. Morin has nearly 30 years of experience in the insurance industry.
He holds a bachelor’s degree in Actuarial Science from Université Laval
in Canada and is a fellow of the Casualty Actuarial Society, a Chartered
Financial Analyst and a member of the American Academy of Actuaries. Mr.
Morin’s promotion is subject to applicable local regulatory approvals.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a Bermuda-based company with approximately
$11.26 billion in capital at March 31, 2018, provides insurance,
reinsurance and mortgage insurance 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: adversegeneral
economic and market conditions;increased competition;pricing
and policy term trends;fluctuations in the actions of rating
agencies and ourability 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; andother
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.
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Arch Capital Services Inc.
Don Watson, 914-872-3616
Source: Arch Capital Group Ltd.