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Arch Chairman to Retire, CEO to Wear Additional Hat

 

Wednesday, May 13,2009, 11:48:21 AM   Click:

Constantine (Dinos) Iordanou, president and chief executive officer of Arch Capital Group Ltd., is taking on the additional post of chairman of the board, effective November 2009, following the retirement of Chairman Paul B. Ingrey.

Ingrey came out of retirement in 2001 to build Arch's reinsurance operations, then became chairman.

Arch also said John D. Vollaro, former chief financial officer and currently a senior adviser of the company, was appointed to the board and will serve as Ingrey?s successor as the chairman of the Underwriting Oversight Committee of the board, effective November 2009.

Arch recently announced the launch of a new Lloyd?s syndicate, Arch Insurance Co. (Europe) Ltd. (BestWire, March 27, 2009).

Most of Arch's rated subsidiaries currently have a Best's Financial Strength Rating of A (Excellent).

Arch (NASDAQ: ACGL) stock was trading at $59.02 a share on the morning of May 12, up 1.46% from the previous close. 

(By Meg Green, senior associate editor, BestWeek: Meg.Green@ambest.com)

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