Mark Lyons takes on new responsibilities at Arch Capital.Arch Capital Group Ltd. has named Mark Lyons president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Arch Insurance Group (U.S.). Lyons is responsible for each of the underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. units of Arch's U.S.-based insurance operations. He reports to Ralph Jones, chairman and chief executive officer of Arch Worldwide Insurance Group. "Mark has been instrumental in the formation of our insurance group and has worked tirelessly tire·less adj. Not yielding to fatigue; untiring or indefatigable. tire less·ly adv. to build the foundation that supports
our insurance operations during the last four years. His promotion is a
well-deserved recognition of his substantial value to our company,
"Jones said in a statement.
Lyons' plans include an increase in internal training and education: "I plan to focus on continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. advancing our market-cycle management framework, which is already quite extensive. Ralph Jones and I are putting a premium on product development efforts and in increasing our internal education and training capabilities. I also have the luxury and privilege of working with some of the best underwriting executives in the industry. This team will continually focus on providing quality earnings to boost our book value; he said. Lyons joined Arch Insurance Group as senior vice president and chief actuary actuary One who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. in August 2002, and in 2003 he was named executive vice president of group operations and chief actuary. |
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