Hashtag: #ArchCapital
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
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 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 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 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 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 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 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 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 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
