Alternative Re Ltd., a subsidiary of Arch Capital Group Ltd., announced yesterday that Arthur Cronin joined the company as president and chief operating officer.

Mr. Cronin will be based in the company's Bermuda offices. Alternative Re and its affiliated companies, Alternative Underwriting Services Ltd. and Alternative Re Holdings, all of which are also subsidiaries of Bermuda-based re/insurer Arch Capital Group Ltd., provide alternative risk financing solutions to clients, including corporations, industry groups and associations through captive and rent-a-captive facilities.

Mr. Cronin was promoted to his new position from Arch Investment Management Ltd., where he served as assistant vice-president, investment controller since 2008.

He has been with the Arch Group since October 2002 when he joined Arch Reinsurance Ltd. as assistant controller.

He has more than 20 years' experience in the insurance and reinsurance industry, having spent eight years with Marsh Management Services (Bermuda) as vice-president and account executive providing rent-a-captive and alternative risk financing solutions to their clients.