Bermuda-based Arch Capital Group Ltd. yesterday announced that Mark Lyons has been promoted to the position of chairman and chief executive officer of Arch Worldwide Insurance Group, effective July 2, 2008.

Mr. Lyons, 51, who joined Arch in 2002, is currently president and chief operating officer of Arch's US-based insurance group, will succeed Ralph Jones, who will be retiring at the end of his five-year employment term on July 1, 2008.

Dinos Iordanou, president and chief executive officer of Arch Capital Group Ltd., said, "We are confident that Mark will continue to provide the strong leadership necessary to sustain our insurance group's success. Our ability to promote from within Arch is another indication of the depth and strength of our management team. Under the continuing senior team led by Mark, the strategic direction of Arch Insurance will not change."

Mr. Lyons has been COO of Arch Insurance Group since June 2006. He previously served in various senior executive positions for Arch Insurance Group, including senior vice-president of group operations and chief actuary.

Before he joined global insurer and reinsurer Arch, Mr. Lyons was executive vice-president of product services at Zurich US.