New Slot For Ingrey At Arch Re

NU Online News Service, April 7, 9:38 a.m.EDT?Arch Capital Group Ltd. said it has selected PaulIngrey, the current chairman and chief executive of Arch'sreinsurance operations, as vice chairman of Arch Capital Groupthrough October 2007.[@@]

The company said the appointment reflects the Bermuda-basedfirm's wish to keep Mr. Ingrey as a member of the corporation'ssenior management?with oversight responsibility for underwritingstrategy?even after his day-to-day operating role at Arch'sreinsurance units ends later this year.

Mr. Ingrey came out of his retirement to build Arch Capital'sreinsurance operation in 2001, with a stipulation that hisday-to-day responsibilities would end in October of 2004.

Arch Capital also announced that when Mr. Ingrey steps down asthe head of Arch's reinsurance operations later this year, DwightEvans will succeed him in overseeing Arch's worldwide reinsurancebusiness.

Mr. Evans first joined Arch in late 2001 as president of ArchReinsurance Ltd. and is currently serving as chairman and CEO ofArch Re Bermuda as well as president and CEO of Arch WorldwideReinsurance Group.

Robert Clements, chairman of the board, said these changes arepart of Arch's "long-term succession plan" made over two years agowhen Mr. Ingrey and Mr. Evans joined Arch during the beginning ofthe corporation's new underwriting initiatives. "With Paul'sguidance, our reinsurance business has established itself as asignificant participant in the worldwide reinsurance marketplace,"Mr. Clements stated.

Additionally, Marc Grandisson, who also has been with Arch ReBermuda since 2001 as chief actuary and chief underwriting officer,has been promoted to the position of president and chief operatingofficer of Arch Re Bermuda, the company said.

Other changes include the appointment of John Rathgeber,managing director and chief operating officer of Arch ReinsuranceCompany since 2001. Mr. Rathgeber has been promoted to the positionof president and CEO of Arch Reinsurance Company. And Tim Olson,who has been managing director-treaty casualty of Arch Re U.S.since 2001, has been promoted to the position of executive vicepresident and chief underwriting officer of Arch Re U.S.

Arch Capital Group, with insurance and reinsurance subsidiariesin Bermuda and the United States, offers a full range ofproperty-casualty insurance and reinsurance products with a focuson specialty lines of business. The company reported net income forfull-year 2003 of $280.6 million.