Hashtag: #ArchCapital

Arch Capital $950M Public Offering Senior Notes

Arch Capital $950M Public Offering Senior Notes

Bermuda-based Arch Capital Group announced the pricing of an offering of $500,000,000 aggregate principal amount of 4.011% senior notes due 2026 and $450,000,000 aggregate principal amount of 5.031% senior notes due 2046 of its wholly owned subsidiary Arch Capital Finance LLC. The Notes will be unconditionally guaranteed by Arch Capital Group Ltd.... Read more of this article

Arch Capital Third Quarter Net Income: $247.4M

Arch Capital Third Quarter Net Income: $247.4M

Bermuda-based Arch Capital Group Ltd. reports that net income available to Arch common shareholders for the 2016 third quarter was $247.4 million, or $1.98 per share, compared to $74.5 million, or $0.60 per share, for the 2015 third quarter. The Company’s net income available to Arch common shareholders represented an annualized return on average... Read more of this article

Fitch Rates Arch’s $450M Preferred Shares

Fitch Rates Arch’s $450M Preferred Shares

Fitch Ratings has assigned a rating of ‘BBB+’/Rating Watch Negative to Arch Capital Group Ltd.’s [ACGL] $450 million issuance of 5.25% series E non-cumulative perpetual preferred shares. The ratings agency said, “This new issue is rated equivalent to ACGL’s existing series C non-cumulative preferred shares. The net proceeds... Read more of this article

AIG Agrees to Sell United Guaranty For $3.4B

AIG Agrees to Sell United Guaranty For $3.4B

American International Group, Inc. [AIG] has entered into an agreement to sell its 100 percent interest in United Guaranty Corporation [UGC] to Arch Capital Group Ltd. [ACGL], a Bermuda-based writer of specialty lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance, on a worldwide basis. Total consideration... Read more of this article

Arch Insurance Europe Appoints Shulman CEO

Arch Insurance Europe Appoints Shulman CEO

Arch Insurance Company [Europe] Limited announced that Matthew Shulman will be appointed President and Chief Executive Officer, effective 1 July 2016. Mr. Shulman joined Arch Insurance U.S. in 2009 and currently serves as Executive Vice President, responsible for its Executive Assurance and Professional Liability underwriting units. Mr. Shulman will... Read more of this article

Arch Capital 2016 Q1 Net Income: $149.3 Million

Arch Capital 2016 Q1 Net Income: $149.3 Million

Bermuda-based Arch Capital Group Ltd. reports that net income available to Arch common shareholders for the 2016 first quarter was $149.3 million, or $1.20 per share, compared to $277.9 million, or $2.16 per share, for the 2015 first quarter. The Company also reported after-tax operating income available to Arch common shareholders of $145.7 million,... Read more of this article

Fitch Affirms Arch Capital Ratings, Outlook Stable

Fitch Affirms Arch Capital Ratings, Outlook Stable

Fitch Ratings has affirmed Arch Capital Group Ltd.’s [ACGL] Issuer Default Rating [IDR] at ‘A’ and the ratings on ACGL’s senior unsecured notes and preferred shares at ‘A-’ and ‘BBB+’, respectively. Additionally, Fitch has affirmed the Insurer Financial Strength [IFS] ratings of ACGL’s various subsidiaries... Read more of this article

Arch Reinsurance Expands Underwriting Team

Arch Reinsurance Expands Underwriting Team

Arch Reinsurance Company announced today that John Willemsen and Bill Hopkins have joined their underwriting team in Morristown, New Jersey as Managing Directors. Mr. Willemsen joins Arch Re with over 30 years of experience, most recently as head of the development of the Programs business at Munich Re. He will help develop and expand Arch Re’s Programs... Read more of this article

Arch Appoints Marc Grandisson: President, CEO

Arch Appoints Marc Grandisson: President, CEO

Arch Capital Group Ltd. announced that Marc Grandisson will be promoted to the position of President and Chief Operating Officer, effective January 1, 2016. Mr. Grandisson joined the Company in 2001 and currently serves as Chairman and Chief Executive Officer of Arch Worldwide Reinsurance and Mortgage Groups. In his new role, Mr. Grandisson will continue... Read more of this article

Fitch Affirms Arch Capital Group Ratings

Fitch Affirms Arch Capital Group Ratings

Fitch Ratings has affirmed Arch Capital Group Ltd.’s [ACGL] Issuer Default Rating [IDR] at ‘A’ and the ratings on ACGL’s senior unsecured notes and preferred shares at ‘A-’ and ‘BBB+’, respectively. Additionally, Fitch has affirmed the Insurer Financial Strength [IFS] ratings of ACGL’s various subsidiaries... Read more of this article

A.M. Best Affirms Ratings Of Arch Reinsurance

A.M. Best Affirms Ratings Of Arch Reinsurance

Rating company A.M. Best has affirmed the financial strength rating [FSR] of A+ [Superior] and the issuer credit ratings [ICR] of “aa-” of  Arch Reinsurance Ltd. and its strategic affiliates. A statement from the ratings agency said, “The affirmations reflect Arch’s continued superior operating performance, consistently excellent capitalization... Read more of this article

Arch Capital 2015 Q2 Net Income: $110.3 Million

Arch Capital 2015 Q2 Net Income: $110.3 Million

Bermuda-based Arch Capital Group Ltd. reports that net income available to Arch common shareholders for the 2015 second quarter was $110.3 million, or $0.88 per share, compared to $202.5 million, or $1.48 per share, for the 2014 second quarter. “The Company also reported after-tax operating income available to Arch common shareholders of $146.0... Read more of this article

Arch Completes Restructuring Of Gulf Re

Arch Completes Restructuring Of Gulf Re

Arch Reinsurance Ltd‘s acquisition of Gulf Reinsurance Ltd., a specialty reinsurer based in the Dubai International Financial Centre, has been completed. The company said, Gulf Re was founded jointly by Arch and the Gulf Investment Corporation [GIC] in 2008. In 2014, Arch and the GIC signed an agreement whereby Arch would acquire 100% ownership... Read more of this article