Arch Insurance Group Names Thomas McMahon Executive Vice President and Northeast Regional Manager.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 12, 2003 Arch Insurance Group, a division of Arch Capital Group Ltd., today announced that Thomas McMahon For the American soldier and Medal of Honor recipient, see . Thomas McMahon (Irish: Tomás Mac Mathúna) (b. 1948 in Monaghan Town, County Monaghan, Republic of Ireland) was a volunteer in the South Armagh Brigade of the Provisional Irish Republican Army (IRA). has been named to the position of Executive Vice President in charge of the Northeast Region, beginning August 18. In his new role, Mr. McMahon will focus on opening Arch's Northeast regional office and growing all lines of business in this sector. Mr. McMahon will be based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and will report to Ralph Jones, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Arch Insurance Group. "We are very pleased to have a person of Tom's caliber join the Arch team. His vast insurance expertise and abilities will contribute to the growth of our Northeast operations. The addition of Tom in New York also completes our regional office network, which currently includes offices in Atlanta, Chicago and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . This also aligns our underwriting plans with our distribution management," said Mr. Jones. Mr. McMahon joins Arch with more than 30 years of insurance industry expertise. Prior to Arch, Mr. McMahon served as Executive Vice President of Royal & SunAlliance's U.S. Operations, where he most recently managed all of the corporate and producer relationships in the U.S. During his tenure at Royal & SunAlliance he held a variety of senior-level management positions, including Chief Marketing Officer and Area President. Mr. McMahon began his insurance career at The Hartford. Arch Insurance Group is a division of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. on a worldwide basis through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . Arch Insurance Group's principal insurance subsidiaries - Arch Insurance Company, Arch Specialty Insurance Company and Arch Excess & Surplus Insurance Company - are rated A- (Excellent) by A.M. Best. For more information, visit www.archinsurance.com. Cautionary Note Regarding Forward-Looking Statements The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " 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 (collectively, the "Company") may include forward-looking statements which reflect the Company's current views with respect to future events and financial performance. Forward-looking statements involve the Company's current assessment of risks and uncertainties, which may cause actual events and results and prospects to differ materially from those expressed or implied in these statements. Certain information regarding such risks and uncertainties is set forth in the Company's filings with the Securities and Exchange Commission. The Company undertakes 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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