Michael Baxter to Oversee Worldwide Onshore Energy and CAR/EAR at Arch Insurance Group
14 Novembre 2008 - 4:23PM
Business Wire
Arch Capital Group Ltd. [NASDAQ: ACGL] today announced that Michael
Baxter will transition from his current role as President and Chief
Agent of Arch Insurance Group�s Canadian operations to become
Worldwide Chief Underwriting Officer for Arch Insurance Group�s
Onshore Energy (Technical Risk) and CAR/EAR platforms. In his new
role, he will oversee these lines across the U.S., Canada and
Europe. �I look forward to working with our Technical Risk and
CAR/EAR teams in the U.S., Canada and Europe to further leverage
our already broad capabilities and underwriting approach,� stated
Mike Baxter. Added Mark Lyons, Chairman and Chief Executive Officer
of Arch Worldwide Insurance Group: �Mike has done an outstanding
job establishing Arch�s initial presence in Canada. His technical
underwriting knowledge and risk engineering background makes him
the ideal choice to provide a worldwide view of our Technical Risk
and CAR/EAR operations. This is a sector that requires consistently
strong underwriting and engineering management to profitably
navigate the cycle, and Mike will further strengthen that for us.�
Mr. Baxter will continue to work from the Toronto offices of Arch
Insurance Group in his new role. Arch Capital Group Ltd., a
Bermuda-based company with over $3.9 billion in capital at
September 30, 2008, 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.
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