Bermudian-based Arch Capital Group Ltd has appointed Dan Houston and Neal Triplett to the company’s board of directors.

The company said Mr Houston is a seasoned executive with a wealth of experience in the financial services sector. He is chairman and chief executive of Principal Financial Group, where he is responsible for overall management of the Fortune 500 company across its global lines of business.

He also serves as an active member of the Business Roundtable and the Fortune CEO Initiative, as well as the chairman of the tax committee for the American Council of Life Insurers. He joined Principal in 1984 and has held several management positions during his tenure.

Mr Triplett is president and chief executive of the Duke University Management Company, a non-profit organisation that manages Duke University’s endowment. He has been with the company for 25 years and, in his role, oversees a diversified portfolio of assets and works closely with Duke University’s leadership to develop and implement investment strategies.

“The board of directors regularly assesses the composition of our board and identifies opportunities to broaden our talent and perspectives,” said board chairman John Pasquesi.

“Dan and Neal both boast impressive track records and relevant experience that the company believes will enhance the board’s overall experience and capabilities.”

Jack Bunce, chairman of ACGL’s nominating and governance committee, said: “We believe Dan’s experience successfully leading a time-honoured financial institution through significant growth and transformation will serve as a valuable addition to the board, while Neal’s investment expertise and deep financial services knowledge will strengthen the depth of the board’s expertise.”

Marc Grandisson, chief executive of ACGL, said: “Arch is in a transformational period of growth, with many more exciting milestones on the horizon. I believe Dan and Neal joining our board further validates our standing as an emerging global market leader. I look forward to working with both of them and the rest of our board in the years ahead.”