Principal Financial CEO joins Arch board

Arch Capital Group has appointed the chairman and chief executive officer of a leading US life insurer and the head of a university endowment fund to its board of directors, saying they will help the company become a global market leader. 

Daniel J Houston leads Principal Financial Group, where he is responsible for overall management of the Fortune 500 company across its global lines of business. He is also an active member of the Business Roundtable and the Fortune CEO Initiative, as well as the chair 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. 

Neal Triplett is president and CEO 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.

“Arch is in a transformational period of growth, with many more exciting milestones on the horizon," said Marc Grandisson, CEO of Bermuda-based ACGL. "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.”

Jack Bunce, chair of the re/insurer'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.”

“The board of directors regularly assesses the composition of our board and identifies opportunities to broaden our talent and perspectives,” said John Pasquesi, chair of the ACGL board of directors. “Dan and Neal both boast impressive track records and relevant experience that the Company believes will enhance the board’s overall experience and capabilities.”

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.