Succeeds W. Preston Hutchings who is retiring after 16 years with Arch
PEMBROKE, Bermuda–(BUSINESS WIRE)–
Arch Capital Group Ltd. [NASDAQ: ACGL] today announced that Christine Todd will join the company as Chief Investment Officer (CIO), effective June 7, 2021, subject to regulatory approval. In this role, Todd will report to Marc Grandisson, CEO of ACGL, and will have responsibility for setting the firm’s investment strategy and managing the day-to-day operations of the investment portfolio.
Todd succeeds W. Preston Hutchings who is retiring from Arch later this year, but will stay with the Company as a Senior Adviser assisting Grandisson with special projects. During his tenure, Hutchings was instrumental in supporting the company’s growth, as evidenced by the size of the company’s investment portfolio which grew from $6 billion to over $26 billion.
“Christine is a dynamic and strategic investment leader with the experience and expertise to help bring our strong investment team into the next era,” said Grandisson. “Her deep understanding of the insurance industry, her ability to lead and develop teams, and her strong ability to collaborate across an organization make her a welcome addition to Arch and to our Executive Leadership Team.
“I would like to thank Preston for his contributions to the Company over the past 16 years. He assembled a world-class investment team that produced excellent results for our shareholders amid an evolving economic landscape and numerous financial stresses and challenges. We are eternally grateful for his guidance and leadership in managing our portfolio,” Grandisson added.
Todd most recently served as the Head of Fixed Income, U.S. for Amundi US, and brings over 30 years of experience to the role. She has also held executive roles at Neighborly Investments, Standish Mellon Asset Management Company LLC and Gannett, Welsh & Kotler. She is a Chartered Financial Analyst and holds a bachelor’s degree from Georgetown University and an MBA from Boston University.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $15.8 billion in capital at March 31, 2021 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 the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s 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, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Company’s ability to successfully integrate, establish and maintain operating procedures as well as consummate acquisitions and integrate the businesses the Company has 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 the Company of reinsurance to manage the Company’s gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (“LIBOR”) and the potential replacement of LIBOR and other factors identified in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).
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. The Company undertakes 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 LLC
Source: Arch Capital Group Ltd.