Arch Insurance Group Opens New Office in Houston; Susan Doyle to Manage the Texas Operation.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 3, 2003 Arch Insurance Group, a division of Arch Capital Group Ltd., announces the opening of its newest office in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . Located in the Williams Tower The Williams Tower (formerly the Transco Tower), is a skyscraper located in the Uptown District of Houston. It was designed by architects Philip Johnson and John Burgee, in association with Houston-based Morris-Aubry Architects, and erected in 1983. at 2800 Post Oak Boulevard, Arch Insurance is well-positioned to serve the Houston market. "While the initial focus of our Houston office will be the pursuit of property energy business, this office will come to serve as our future hub for Texas production and broker relations, " said Gary Dittman, Executive Vice President for Arch Insurance Group's Midwest Region. The key areas of business Arch's Houston office will initially specialize in include: -- Technical Risk Property -- Oil -- Gas -- Petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. -- Power generation -- Pulp and paper -- Steel -- Mining -- Offshore Energy "The Houston marketplace will create fresh opportunities to showcase not only property energy but all of Arch's specialty lines of business," said Susan Doyle, Vice President, Arch Insurance Group, who will manage operations in Houston. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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