Arch Insurance Bermuda has named Terry Pimentel president effective January 1 next year, he will replace current president James Ansaldi who is retiring after a 28-year career.

Arch Worldwide Insurance Group chairman and chief executive officer Ralph Jones said: "We want to thank Jim Ansaldi for his outstanding leadership and service to Arch over the past five years and wish him well in his retirement.

"Jim has had a long and distinguished career in the insurance industry and has achieved some of the best underwriting results in the Bermuda market."

On the appointment of Mr. Pimentel, the CEO said: "Terry brings the full complement of skills in leadership, industry experience and Bermuda market knowledge to the post. I am confident that we will continue to expand on the progress we've made in Bermuda by Jim and his team."

Mr. Pimentel joined Arch Insurance Bermuda in 2002 and was most recently senior vice president of excess casualty. Prior to Arch, he spent several years in various management positions with AIG in Bermuda where his responsibilities included regional production, underwriting, marketing, internal and external audits, and reinsurance. His insurance career began with the Bermuda Fire and Marine Insurance Company as an underwriter from 1984-1988.

"I am pleased to have been given the opportunity to build on our accomplishments so far. We have a very talented and dedicated team in Bermuda with a solid reputation in the market. It will be a privilege to represent them going forward," said Mr. Pimentel.