April 27, 2005 14:14 ET
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: ARCH INSURANCE GROUP
APRIL 27, 2005 - 14:14 ET
Arch Insurance Group Enters Canadian Insurance Marketplace: Opening Arch Canada
TORONTO--(CCNMatthews - Apr 27, 2005) -
Arch Insurance Group, a division of Arch Capital Group Ltd., announced, at this year's Risk and Insurance Management Society, Inc. conference in Philadelphia, its entrance into the Canadian insurance marketplace.
Heading the new operation is Sheldon Rankin, former Chairman and CEO of Marsh Canada. In his new role, Mr. Rankin will serve as Chief Agent and CEO of Arch (Canada). "We are very pleased to bring much needed high quality capital into the Canadian marketplace. We plan to develop risk solutions to meet the unique and changing needs of our Canadian customers and producers," said Mr. Rankin.
Arch (Canada) is headquartered in downtown Toronto with offices located at 95 Wellington Street West in the Toronto-Dominion Centre. Beginning with a staff of 12, our initial product offerings will focus on:
-- Executive Assurance with a focus on Directors & Officers Liability
-- Global Property & Technical Risks
-- Railroad Liability
Main product contacts include:
Jennifer Devereaux, Regional Vice President
Peter Talacek, Regional Vice President
Global Property & Technical Risks
Henry Ulozas, Regional Vice President
Arch (Canada) intends to offer additional products to meet niche market areas as it begins to grow and expand its operation across Canada.
Arch (Canada) is a branch of Arch Insurance Company, a member of Arch Insurance Group. Arch Insurance Group is a division of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. 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 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 (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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Arch Insurance Group
Andrea Forman-Grinbaum, 646-563-5726
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