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Arch Capital Announces 4th Quarter Results

Arch Capital Announces 4th Quarter Results

Arch Capital Group Ltd. announced its fourth quarter 2023 results, with net income available to Arch common shareholders of $2.3 billion, or $6.12 per share. A spokesperson said, “The results included: Net income available to Arch common shareholders of $2.3 billion, or $6.12 per share, representing a 58.2% annualized net income return on average... Read more of this article

Premier & Arch CEO To Speak At Risk Summit

Premier & Arch CEO To Speak At Risk Summit

A keynote conversation between Premier David Burt and Marc Grandisson, CEO, Arch Capital Group Ltd. [Arch] will kick off the 2024 Bermuda Risk Summit, presented by the Bermuda Business Development Agency [BDA], in partnership with the Association of Bermuda Insurers and Reinsurers [ABIR] and EY. In 2021, Arch celebrated its 20th anniversary as a Bermuda... Read more of this article

Arch Welcomes Prabhu Venkataraman As CIO

Arch Welcomes Prabhu Venkataraman As CIO

Arch Insurance North America has appointed Prabhu Venkataraman as its Chief Information Officer. A spokesperson said, “In this role, Venkataraman is responsible for leading technology implementation and services across the segment, with a particular focus on strategic alignment, data enablement and empowering the business. He reports to Prashant... Read more of this article

Arch Capital & Upfort Announce Partnership

Arch Capital & Upfort Announce Partnership

Upfort and Arch Insurance announced a strategic partnership to “transform cyber insurance programs for small and medium-sized enterprises [SMEs], associations and risk pools.” A spokesperson said, “Upfort, a cutting-edge cyber security and insurance platform, and Arch Insurance [Arch], a global provider of specialty risk insurance... Read more of this article

Arch Reinsurance Appoints Greg Habay

Arch Reinsurance Appoints Greg Habay

Arch Reinsurance has appointed Greg Habay as Managing Director, Head of Business Development and ILS Partners Relations, where he will lead the company’s Insurance-Linked Securities [ILS]. A spokesperson said, “Arch Reinsurance today announces the appointment of Greg Habay as Managing Director, Head of Business Development and ILS Partners... Read more of this article

Arch US MI To Acquire RMIC Companies

Arch US MI To Acquire RMIC Companies

Arch U.S. MI Holdings, a wholly owned subsidiary of Arch Capital Group Ltd., has entered into a definitive agreement to acquire RMIC Companies, Inc. [RMIC] and its subsidiaries that together comprise the run-off mortgage insurance business of Old Republic International Corporation. A spokesperson said, “Once the transaction is closed, RMIC’s... Read more of this article

Arch Capital Announces 3rd Quarter Results

Arch Capital Announces 3rd Quarter Results

Arch Capital Group Ltd. announced its third quarter 2023 results, with net income available to Arch common shareholders of $713 million, or $1.88 per share A spokesperson said, “The results included: Net income available to Arch common shareholders of $713 million, or $1.88 per share, a 20.2% annualized net income return on average common equity,... Read more of this article

NOW Receives Funding From Arch Capital

NOW Receives Funding From Arch Capital

NOW Insurance, a full-stack, AI-enabled commercial insurance platform specializing in medical professional liability coverage, announced an investment from a subsidiary of Arch Capital Group Ltd. and a managing general agent partnership with Arch Insurance North America. A spokesperson said, “Proceeds from the latest capital raise will be used... Read more of this article

Helix Enters Into Agreement With Arch Capital

Helix Enters Into Agreement With Arch Capital

Helix Underwriting Partners, announces they have “entered into an equity investment agreement under which Arch Capital Holdings has become a minority shareholder in the Bermuda-based agency.” A spokesperson said, “The transaction further solidifies the strong trading relationship between Helix and Somers Re Ltd. [Somers], which began in... Read more of this article

Arch Insurance Acquires Thimble

Arch Insurance Acquires Thimble

Arch Insurance announced it has acquired Thimble, a leading insurtech platform for small business customers and agents. A spokesperson said, “Thimble enables small businesses to quickly get insurance coverage by the job, month or year using its award-winning app, website, or over the phone. “The acquisition expands Arch’s suite of digital... Read more of this article

AM Best Affirms Credit Ratings Of Arch Capital

AM Best Affirms Credit Ratings Of Arch Capital

AM Best has affirmed the Financial Strength Rating [FSR] of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICR] of “aa-” [Superior] of 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... Read more of this article

Arch Capital Reports 2022 Fourth Quarter Results

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

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 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 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 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