Arch Names Ralph E. Jones III President and CEO of U.S. Division

June 5, 2003

The Bermuda-based Arch Capital Group Ltd. announced that, Ralph E. Jones III will join the company as President and CEO of Arch Insurance Group, a division of Arch Capital, effective July 1, 2003.

Jones will assume responsibility for the management and oversight of Arch’s U.S.-based insurance operations and will report to Constantine Iordanou, President of Arch Worldwide Insurance and Reinsurance Group.

“Ralph is a proven executive with exceptional insurance industry experience, and will add depth to our senior management team,” Iordanou observed. “I am very pleased that he is joining us and look forward to working with him in executing Arch’s long-term business plan.”

Jones, 47, has more than 25 years of insurance industry experience. Prior to joining Arch, he was the CEO of Chubb Specialty Insurance, a strategic business unit within the Chubb Group. Previously, he was the Managing Director of Hiscox Insurance Company, Ltd., the U.K and European P/C business of Hiscox, plc. He began his career with Chubb, where he served in various senior executive positions, including Chief Underwriting Officer of Chubb Insurance Company of Europe and worldwide manager of its Executive Protection Department.

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