Arch Capital Group Ltd. Announces Resignation of Kewsong Lee from the Board of Directors
Arch Capital Group Ltd. (NASDAQ:ACGL) today announced that Kewsong Lee has resigned from its Board of Directors because of the
expansion of his duties at Carlyle Group LP following his recent promotion to co-CEO effective January 1, 2018.
Constantine (Dinos) Iordanou, Chairman and CEO of ACGL, commented, “We thank Kewsong for his outstanding service to the Company.
He has been a director since our initial capital raise in 2001, and our Lead Director since 2009. We appreciate Kew’s insight and
leadership and will miss his counsel. We wish him all the best as he pursues his new role with Carlyle.”
Mr. Lee commented, “Arch is a terrific company and has performed well because of its outstanding management leadership and
Board. Dinos has done an amazing job driving Arch, and over the past 16 years, I’m grateful for the opportunity to have worked with
him, his extremely talented team, and my fellow directors on the Board. Arch has tremendous depth throughout the organization and
is well-positioned as the emerging senior leadership team continues to drive Arch’s growth and success.”
Arch Capital Group Ltd., a Bermuda-based company with approximately $11.04 billion in capital at September 30, 2017, provides
insurance, reinsurance and mortgage insurance 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.
Arch Capital Group Ltd.
Mark D. Lyons, (441) 278-9250
View source version on businesswire.com: http://www.businesswire.com/news/home/20171103005165/en/