 Representing his nation's Chess Olympiad team between 1978 and 1994, he helped Iceland to 5th and 6th-place finishes in 1986 and 1992 respectively.Jón Loftur Árnason ceased playing competitively around 1995, in order to concentrate on his other passion, business and finance.He obtained a degree in Finance and Accounting from the University of Iceland and embarked on a career that took him to Icelandic firm Oz Communications Inc., where he was appointed Secretary and Treasurer.