Arch Insurance Names Robert T. Van Gieson President & CEO of Arch London.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 26, 2003 Arch Insurance Group, a division of Arch Capital Group Ltd., today announced that Robert T. Van Gieson has been named to the position of 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. of Arch Capital UK Ltd., Arch's London operation, beginning September 1. Mr. Van Gieson will be based in Arch's London office and will report to Ralph Jones, president and CEO, Arch Insurance Group. "We are very pleased to have Bob join the Arch team. Bob's extensive experience will be instrumental in building our business in the UK and Europe," said Mr. Jones, adding, "Bob will work very closely with the Arch staff already in place in our London office." Mr. Van Gieson joins Arch with more than 35 years of insurance industry expertise. Prior to Arch, he served as CEO of CNA's Global Operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. and senior vice president of CNA Financial CNA Financial Corporation (NYSE: CNA) is a financial corporation based in Chicago, Illinois, United States, and noted for its 600 foot tall red headquarters building there. Its principal subsidiary, Continental Casualty Company (CCC) was founded in 1897. . In this role, Mr. Van Gieson was responsible for directing the successful integration of six non-aligned strategic business units with total revenue of $1.25 billion and a staff of 2,500. Before joining CNA (Certified NetWare Administrator) See Novell certification. in 1996, Mr. Van Gieson was the Chairman and CEO of Chubb Insurance Co. Europe. He held that position from 1990-1996. Mr. Van Gieson began his insurance career at Chubb and held a variety of senior level positions during his tenure with the company. 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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