Hashtag: #ArchCapital
Arch Capital Reports 2022 Fourth Quarter Results
Arch Capital Group Ltd. [ACGL] announced its 2022 fourth quarter results. A spokesperson said, “The results included: Net income available to Arch common shareholders of $849.5 million, or $2.26 per share, a 29.5% annualized net income return on average common equity, compared to $613.1 million, or $1.58 per share, for the 2021 fourth quarter; After-tax... Read more of this article
Simply Business Partners With Arch Insurance
Simply Business partners with Arch Insurance to expand professional liability product offering. A spokesperson said, “Simply Business, LLC., a Boston-based digital insurance company focused on small businesses, today announced a partnership with specialty insurer Arch Insurance to offer monoline professional liability solutions to small business... Read more of this article
Arch Capital Reports 2022 Third Quarter Results
Arch Capital Group Ltd. announces its 2022 third quarter results. The results included: Net income available to Arch common shareholders of $6.9 million, or $0.02 per share, a 0.2% annualized net income return on average common equity, compared to $388.8 million, or $0.98 per share, for the 2021 third quarter; After-tax operating income available... Read more of this article
Arch Announces Catastrophe Loss Estimates
Arch Capital Group Ltd. has established a range of pre-tax catastrophe losses of $530 million to $560 million in the 2022 third quarter. The company said, “Arch Capital Group Ltd. reports that its 2022 third quarter results will be negatively impacted by the effects of Hurricane Ian, as well as from a series of other global events that occurred this... Read more of this article
Arch Re Announces Executive Promotions
Arch Reinsurance Company announced several promotions in its leadership team that were effective January 1, 2022. A spokesperson said, “Peder Moeller became CEO, while Jessica Bongiorno was promoted to Chief Underwriting Officer [CUO], Property and Specialty, and Joshua Hackett assumed the role of CUO, Casualty and Specialty. “The promotions coincide... Read more of this article
AM Best Affirms Credit Ratings Of Arch Capital
AM Best has affirmed the Financial Strength Rating of A+ [Superior] and the Long-Term Issuer Credit Ratings of “aa-” [Superior] of Bermuda based Arch Reinsurance Ltd. [Arch] [Bermuda] and its strategic affiliates. Concurrently, AM Best has affirmed the Long-Term ICRs of “a-” [Excellent] and the Long-Term Issue Credit Ratings [Long-Term IRs]... Read more of this article
Arch Relaunches Watford Re As Somers Re
Arch Capital Group Ltd., alongside investment partners Warburg Pincus and Kelso & Company announced that Watford Holdings Ltd. and Watford Re Ltd. have been renamed Somers Group Holdings Ltd. and Somers Re Ltd, respectively. A spokesperson said, “Headquartered in Bermuda, the name Somers Re is a nod to Sir George Somers, who founded Bermuda in... Read more of this article
Arch Capital Reports 2021 Third Quarter Results
Arch Capital Group Ltd. announces its 2021 third quarter results. The results included: Net income available to Arch common shareholders of $388.8 million, or $0.98 per share, a 12.3% annualized net income return on average common equity, compared to $408.6 million, or $1.00 per share, for the 2020 third quarter; After-tax operating income available... Read more of this article
Arch Insurance Appoints Tom Rivers As CRO
“Arch Insurance International announced the appointment of Tom Rivers as Chief Risk Officer, with immediate effect. A spokesperson said, “Rivers has extensive enterprise risk management and regulatory experience in corporate actuarial and risk management roles, gained over a 20-year career working in the insurance sector. “He joins... Read more of this article
Arch Completes Redemption Of Preferred Shares
Arch Capital Group has completed the redemption on Sept 30th of all 18,000 of its outstanding 5.25% Series E Non-Cumulative Preferred Shares. A spokesperson said, “Arch Capital Group Ltd. announced that it completed the redemption on Sept. 30, 2021 of all 18,000 of its outstanding 5.25% Series E Non-Cumulative Preferred Shares represented by... Read more of this article
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 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 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
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 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 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
