Hashtag: #ArchCapital
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
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
