November 20, 2018

Arch Insurance Announces Strategic Leadership Changes

LONDON–(BUSINESS WIRE)–Arch Insurance (“Arch”) today announced Hugh Sturgess will assume the
role of Chief Executive Officer, Arch Insurance International, effective
Jan. 1, 2019, subject to regulatory approvals. Arch Insurance
International includes Arch’s insurance operations in Europe, Bermuda
and Australia.

“During the last five years under Hugh’s leadership, Arch Insurance
Canada has experienced a successful turnaround and is now positioned to
grow profitably”

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Mr. Sturgess has been with Arch Insurance since 2005 and is currently
President and CEO of Arch Insurance Canada Ltd., where he has strategic
and operational responsibility for a multi-line underwriting portfolio.
Before joining Arch, Mr. Sturgess held various roles in the financial
services industry, including tenures with the Royal Bank of Canada and
Chubb Insurance Company of Canada.

“Arch Insurance International underwrites a diverse portfolio of
specialty insurance solutions across a number of geographies, with a key
focus on providing value to our distribution partners and customers,”
Mr. Sturgess said. “I look forward to the opportunity to work with our
team in continuing to expand the value proposition of our International

Mr. Sturgess will be based in London and will report to Nicolas
Papadopoulo, Chairman and CEO of Arch Worldwide Insurance Group. He
succeeds Matt Shulman, who was recently named CEO of Arch Insurance
North America.

“Hugh is an experienced industry executive who knows and values the Arch
brand,” said Mr. Papadopoulo. “His elevation to lead our International
operations is well deserved, and I’m confident in his ability to
successfully build on the transformation started by Matt Shulman.”

In conjunction with Mr. Sturgess’ appointment, Arch Insurance announced
the following appointments at Arch Insurance Canada Ltd., effective Jan.
1, 2019:

  • Gale Lockbaum will become President and Chief Operating Officer of
    Arch Insurance Canada, with responsibility for finance, actuarial,
    claims, risk and compliance, as well as overseeing regulatory matters.
    Mrs. Lockbaum has been with Arch Insurance Canada since 2011 and
    currently serves as Chief Financial Officer.
  • Jean-Pierre Galipeault will become Arch Insurance Canada’s Chief
    Regional Executive, with responsibility for strategy, distribution and
    underwriting. Mr. Galipeault has been with Arch Insurance Canada since
    2013, successfully managing its Lenders business unit.

“During the last five years under Hugh’s leadership, Arch Insurance
Canada has experienced a successful turnaround and is now positioned to
grow profitably,” said Mr. Shulman. “I am pleased that we are promoting
from within and look forward to the operation’s continued success under
Gale and Jean-Pierre.”

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

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 Services Inc.
Greg Hare
[email protected]