Bermuda-based Arch Capital Group Ltd. (ACGL) announced that Marc Grandisson will be promoted to the position of president and chief operating officer, effective Jan. 1, 2016.
Grandisson, 48, joined the company in 2001 and currently serves as chairman and chief executive officer of Arch Worldwide Reinsurance and Mortgage Groups and has been a member of the company’s executive strategy committee.
Grandisson has held various leadership roles at Arch Reinsurance Ltd., including president and CEO. Before joining the company, Grandisson held various senior positions at Berkshire Hathaway and F&G Re. He holds an MBA from The Wharton School of the University of Pennsylvania, and is also a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries
In his new role, Grandisson will continue to report to Dinos Iordanou, chairman of the board and chief executive officer of ACGL. He will have responsibility for all of the company’s operating units, insurance, reinsurance and mortgage. All other corporate functions, finance, investments and legal, will continue to report to Iordanou, Arch said in a statement.
“The board of directors and I would like to congratulate Marc on his new role. He has done an outstanding job for us since joining the Company over 14 years ago, and his promotion is well deserved,” commented Iordanou.
“With Marc’s guidance, our reinsurance and mortgage businesses have become significant participants in the marketplace, and he is an important member of our senior leadership team,” Iordanou continued. “Promoting from within the company is confirmation of Arch’s commitment to our people, the importance we place on our unique culture, and the strength and depth of the management team we have built at Arch.”
Grandisson said: “I am excited and honored to take on this new role. I look forward to continuing to work closely with Dinos, our strong senior management team and the talented staff across our entire organization to continue to develop and expand our business and execute our long-term strategic plan. With Dave McElroy, Nicolas Papadopoulo and Andrew Rippert overseeing our insurance, reinsurance and mortgage operations, respectively, we have an extremely deep management team and I am very pleased that they will lead our business into the future.”
Source: Arch Capital Group Ltd.
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