Arch Capital Group Ltd. (NASDAQ:ACGL) today announced that Louis J.
Paglia and Eugene S. Sunshine have been appointed to the Company’s Board
of Directors.
Mr. Paglia founded Customer Choice LLC in April 2010, a data analytics
company serving the electric utility industry. He previously served as
Executive Vice President of UIL Holdings Corporation, an electric
utility, contracting and energy infrastructure company. Mr. Paglia also
served as UIL Holdings’ Chief Financial Officer and as President of its
investment subsidiaries. Prior to joining UIL Holdings, Mr. Paglia was
Executive Vice President and Chief Financial Officer of eCredit.com, a
credit evaluation software company. Prior to that, Mr. Paglia served as
the Chief Financial Officer for TIG Holdings Inc. and Emisphere
Technologies, Inc. He is currently a member of the boards of directors
of NorthStar Realty Finance Corp. and NorthStar Asset Management Group
Inc.
Mr. Sunshine is the Senior Vice President for Business and Finance at
Northwestern University, the University’s chief financial and
administrative officer. Before joining Northwestern in 1997, he was
Senior Vice President for Administration at The John Hopkins University.
Prior to Johns Hopkins, Mr. Sunshine held positions as New York State
Deputy Commissioner for Tax Policy and New York State Treasurer as well
as Director of Energy Conservation for the New York State Energy Office.
He currently is a member of the boards of directors of Chicago Board
Options Exchange, Nuveen Investments, Inc. and PlattForm Advertising. He
also serves as Chairman of the Board of Rubicon, an insurance affiliate
of Northwestern University. Mr. Sunshine is a former member of the
boards of Bloomberg L.P. and National Mentors Holdings.
Dinos Iordanou, Chairman, President and Chief Executive Officer of the
Company, said, “We are extremely pleased to have both Lou and Gene join
our Board of Directors. Our Company will benefit from their substantial
financial and operational experience.”
Kewsong Lee, Lead Director and Chairman of the Executive and Nominating
Committees, added, “We are very pleased to welcome our new directors to
the Company’s Board and look forward to their insight and contributions
for many years to come.”
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a Bermuda-based company with approximately
$6.79 billion in capital at March 31, 2014, provides insurance and
reinsurance on a worldwide basis through its wholly owned subsidiaries.
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 may include forward−looking statements, which
reflect our current views with respect to future events and financial
performance. All statements other than statements of historical fact
included in or incorporated by reference in this release are
forward−looking statements.
Forward−looking statements can generally be identified by the use of
forward−looking terminology such as "may," "will," "expect," "intend,"
"estimate," "anticipate," "believe" or "continue" or their negative or
variations or similar terminology. Forward−looking statements involve
our current assessment of risks and uncertainties. Actual events and
results may differ materially from those expressed or implied in these
statements. A non-exclusive list of the important factors that could
cause actual results to differ materially from those in such
forward-looking statements includes the following: adverse general
economic and market conditions; increased competition; pricing
and policy term trends; fluctuations in the actions of rating
agencies and our ability to maintain and improve our ratings;
investment performance; the loss of key personnel; the
adequacy of our loss reserves, severity and/or frequency of
losses, greater than expected loss ratios and adverse development on
claim and/or claim expense liabilities; greater frequency or
severity of unpredictable natural and man-made catastrophic events; the
impact of acts of terrorism and acts of war; changes in regulations
and/or tax laws in the United States or elsewhere; our ability to
successfully integrate, establish and maintain operating procedures as
well as integrate the businesses we have acquired or may acquire into
the existing operations; changes in accounting principles or
policies; material differences between actual and expected
assessments for guaranty funds and mandatory pooling arrangements; availability
and cost to us of reinsurance to manage our gross and net exposures; the
failure of others to meet their obligations to us; and other
factors identified in our filings with the U.S. Securities and Exchange
Commission.
The foregoing review of important factors should not be construed as
exhaustive and should be read in conjunction with other cautionary
statements that are included herein or elsewhere. All subsequent written
and oral forward−looking statements attributable to us or persons acting
on our behalf are expressly qualified in their entirety by these
cautionary statements. We undertake no obligation to publicly update or
revise any forward−looking statement, whether as a result of new
information, future events or otherwise.
Copyright Business Wire 2014