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Arch Capital Closes Acquisition Of Westpac

Arch Capital Closes Acquisition Of Westpac

Arch Capital Group Ltd. announced the completion of the previously disclosed acquisition of Westpac Lenders Mortgage Insurance Limited [WLMI]. A spokesperson said, “Arch Capital Group Ltd. announced the completion of the previously disclosed acquisition of Westpac Lenders Mortgage Insurance Limited [WLMI], an Australian Prudential Regulation Authority... Read more of this article

Arch Appoints Ebong & Mallesch To Board

Arch Appoints Ebong & Mallesch To Board

Arch Capital Group Ltd. announced that Francis Ebong and Eileen Mallesch has been appointed to the Company’s Board of Directors, effective immediately. A spokesperson said, “Mr. Ebong has an extensive background in technology and innovation and is currently Managing Director of Program Management at X, Alphabet’s in-house research and development... Read more of this article

Arch Closes Acquisition Of Somerset Bridge

Arch Closes Acquisition Of Somerset Bridge

Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced the completion of the previously disclosed acquisition of Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates. Arch Re originally announced its plan to acquire Somerset on June 23, 2021. “We are pleased to complete this transaction,” said William Soares,... Read more of this article

Hardy Pickering To Join Arch Re As CFO

Hardy Pickering To Join Arch Re As CFO

Arch Reinsurance Ltd. announced the appointment of Vanessa Hardy Pickering as Chief Financial Officer, effective September 1, 2021, noting that she will report to Jerome Halgan, Chief Executive Officer of ARL. “Hardy Pickering is an established [re]insurance executive with a track record of supporting strategic growth plans, assembling and leading... Read more of this article

Arch Capital Closes Acquisition Of Watford

Arch Capital Closes Acquisition Of Watford

Arch Capital Group Ltd. along with investment partners Kelso & Company and Warburg Pincus, announced the completion of the previously disclosed acquisition of Watford Holdings Ltd. The company said, “Watford and Arch originally announced the signing of a definitive merger agreement on Nov. 2, 2020, through an affiliated entity of which Arch... Read more of this article

Arch Reinsurance To Acquire Somerset Bridge

Arch Reinsurance To Acquire Somerset Bridge

Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd., announced its plan to acquire Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates, subject to regulatory approval. The company said. “The proposed acquisition will include Somerset’s motor managing general agent, distribution capabilities through direct... Read more of this article

Christine Todd To Join Arch Capital Group

Christine Todd To Join Arch Capital Group

Arch Capital Group Ltd. announced that Christine Todd will join the company as Chief Investment Officer [CIO], effective June 7, 2021, subject to regulatory approval. A spokesperson said, “In this role, Todd will report to Marc Grandisson, CEO of ACGL, and will have responsibility for setting the firm’s investment strategy and managing the day-to-day... Read more of this article

Arch Rules Out Adani Carmichael Coal Mine

Arch Rules Out Adani Carmichael Coal Mine

Arch Capital Group will not issue any insurance policies covering the controversial Adani Carmichael coal mine in Australia. A spokesperson said, “On behalf of its underwriting operations, Arch Capital Group Ltd. confirms that it has not and will not issue any insurance policies covering the Adani Carmichael coal mine.” According to the... Read more of this article

Arch Capital Enters Agreement With Westpac

Arch Capital Enters Agreement With Westpac

Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group to acquire Westpac Lenders Mortgage Insurance Limited [WLMI]. A spokesperson said, “The Global Mortgage Group of Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group [Westpac] to acquire Westpac Lenders Mortgage Insurance... Read more of this article

Arch Insurance Announces New Online Platform

Arch Insurance Announces New Online Platform

Arch Insurance Company announced a new online platform that allows brokers to rapidly price and purchase Business Travel Accident [BTA] policies for U.S.-based companies with up to 250 business travelers. A spokesperson said, “The platform, called Arch BTAExpressTM, leverages a state-of-the-art underwriting and technology experience, allowing simple... Read more of this article

Arch Capital Report 2020 4th Quarter Results

Arch Capital Report 2020 4th Quarter Results

Arch Capital Group Ltd. announced their 2020 fourth quarter results. The results included:Net income available to Arch common shareholders of $533.1 million, or $1.30 per share, a 17.8% annualized return on average common equity, compared to $316.0 million, or $0.76 per share, for the 2019 fourth quarter;After-tax operating income available to... Read more of this article

Arch Announces Catastrophe Loss Estimates

Arch Announces Catastrophe Loss Estimates

Bermuda-based Arch Capital Group Ltd. has established a range of pretax catastrophe losses of $155 million to $165 million in the 2020 fourth quarter. The company said, “Arch Capital Group Ltd. reports that its 2020 fourth quarter results will be negatively impacted by a set of catastrophe events that occurred during the 2020 fourth quarter, including... Read more of this article