Hashtag: #ArchCapital

Arch Announces Closing Of McNeil Acquisition

Arch Announces Closing Of McNeil Acquisition

Bermuda-based Arch Capital Group Ltd. announced the completion of its previously disclosed acquisition of McNeil & Co. [McNeil], a nationwide leader in specialized risk management and insurance programs. McNeil & Co., headquartered in Cortland, New York, will operate as an independent, wholly owned subsidiary of Arch Insurance. “We are excited... Read more of this article

Arch Announces Strategic Leadership Changes

Arch Announces Strategic Leadership Changes

Arch Insurance announced Hugh Sturgess will assume the role of Chief Executive Officer, Arch Insurance International, effective Jan. 1, 2019, subject to regulatory approvals. Arch Insurance International includes Arch’s insurance operations in Europe, Bermuda and Australia. Mr. Sturgess has been with Arch Insurance since 2005 and is currently President... Read more of this article

Arch Insurance To Acquire McNeil & Co.

Arch Insurance To Acquire McNeil & Co.

Arch Capital Group Ltd. has entered into a definitive agreement to acquire McNeil & Co. [McNeil], a nationwide leader in specialized risk management and insurance programs headquartered in Cortland, New York. Terms of the transaction were not disclosed. “McNeil is a great fit for Arch and solidifies a program relationship that dates back to Arch’s... Read more of this article

Arch Insurance Promotes Mark Lange To EVP

Arch Insurance Promotes Mark Lange To EVP

Arch Insurance announced that Mark Lange has been promoted to Executive Vice President [EVP], Strategy and Distribution for Arch Insurance Group’s North American operations. Mr. Lange will report to Michael Price, EVP and Chief Underwriting Officer of Arch Insurance Group Inc. In this new role, Mr. Lange succeeds industry veteran Bill Casey, who has... Read more of this article

Arch Name François Morin Executive VP & CFO

Arch Name François Morin Executive VP & CFO

Arch Capital Group Ltd. announced François Morin will assume the role of Executive Vice President and Chief Financial Officer of the Company effective May 25, 2018. He will report to Marc Grandisson, President and Chief Executive Officer of ACGL. Mr. Morin will replace outgoing Chief Financial Officer Mark Lyons, who is leaving Arch to become Senior... Read more of this article

Arch Capital Reports 2018 First Quarter Results

Arch Capital Reports 2018 First Quarter Results

Bermuda-based Arch Capital Group Ltd. reports that net income available to Arch common shareholders for the 2018 first quarter was $137.3 million, or $0.99 per share, compared to $241.9 million, or $1.74 per share, for the 2017 first quarter. The Company’s net income available to Arch common shareholders produced an annualized return on average common... Read more of this article

Arch Enters Transaction With Catalina General

Arch Enters Transaction With Catalina General

Arch Reinsurance has entered into a reinsurance transaction with Catalina General Insurance Ltd. [Catalina] to reinsure run-off liabilities associated with certain discontinued US Specialty Casualty exposures and various discontinued US Standard Programs businesses. Arch Re assumed the liabilities from its affiliate, Arch Insurance Company, over time... Read more of this article

Arch Announces Secondary Public Offering

Arch Announces Secondary Public Offering

Arch Capital Group Ltd. announced an underwritten public secondary offering of 5,674,200 common shares by certain selling shareholders affiliated with American International Group, Inc. has priced. The public offering price is $88.55 per common share for an aggregate public offering price of $502,450,410. Proceeds from the sale of common shares pursuant... Read more of this article

Arch Capital Report Q4 Net Income Of $203.5M

Arch Capital Report Q4 Net Income Of $203.5M

Bermuda-based Arch Capital Group reports that net income available to Arch common shareholders for the 2017 fourth quarter was $203.5 million, or $1.46 per share, compared to $62.4 million, or $0.50 per share, for the 2016 fourth quarter. For the year ended December 31, 2017, the Company reported net income available to Arch common shareholders of... Read more of this article

Arch Capital Update Catastrophe Loss

Arch Capital Update Catastrophe Loss

During the fourth quarter of 2017, a series of wildfires burned across many areas of California and a series of smaller catastrophe events occurred around the globe, and Arch Capital Group Ltd. has established a range of pre-tax losses of $60 million to $75 million, net of reinsurance recoveries and reinstatement premiums, for these 2017 fourth quarter... Read more of this article

Kewsong Lee Resigns From Arch Capital Board

Kewsong Lee Resigns From Arch Capital Board

Bermuda-based Arch Capital Group Ltd. announced that Kewsong Lee has resigned from its Board of Directors because of the expansion of his duties at Carlyle Group LP following his recent promotion to co-CEO effective January 1, 2018. Constantine [Dinos] Iordanou, Chairman and CEO of ACGL, commented, “We thank Kewsong for his outstanding service to... Read more of this article

Arch Capital Reports Q3 Net Loss Of $52.8M

Arch Capital Reports Q3 Net Loss Of $52.8M

Bermuda-based Arch Capital Group Ltd. reports that, as a result of the significant level of catastrophic event activity in the 2017 third quarter, the Company incurred a net loss to Arch common shareholders of $52.8 million, or $0.39 per share, compared to net income available to Arch common shareholders of $247.4 million, or $1.98 per share, for the... Read more of this article

Everest Re, AXIS & Arch Q3 Loss Estimates

Everest Re, AXIS & Arch Q3 Loss Estimates

More Bermuda-based re/insurers – Everest Re Group, AXIS Capital Holdings and Arch Capital Group – have announced their preliminary estimates of third quarter 2017 catastrophe losses. Everest Re Group: $900 Million Everest Re Group, Ltd. announced that it expects to incur pretax catastrophe losses, net of reinsurance and reinstatement... Read more of this article