Hashtag: #ArchCapital
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
Christine Todd To Join Arch Capital Group
Arch Capital Group Ltd. announced that Christine Todd will join the company as Chief Investment Officer [CIO], effective June 7, 2021, subject to regulatory approval. A spokesperson said, “In this role, Todd will report to Marc Grandisson, CEO of ACGL, and will have responsibility for setting the firm’s investment strategy and managing the day-to-day... Read more of this article
Arch Rules Out Adani Carmichael Coal Mine
Arch Capital Group will not issue any insurance policies covering the controversial Adani Carmichael coal mine in Australia. A spokesperson said, “On behalf of its underwriting operations, Arch Capital Group Ltd. confirms that it has not and will not issue any insurance policies covering the Adani Carmichael coal mine.” According to the... Read more of this article
Arch Capital Enters Agreement With Westpac
Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group to acquire Westpac Lenders Mortgage Insurance Limited [WLMI]. A spokesperson said, “The Global Mortgage Group of Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group [Westpac] to acquire Westpac Lenders Mortgage Insurance... Read more of this article
Arch Insurance Announces New Online Platform
Arch Insurance Company announced a new online platform that allows brokers to rapidly price and purchase Business Travel Accident [BTA] policies for U.S.-based companies with up to 250 business travelers. A spokesperson said, “The platform, called Arch BTAExpressTM, leverages a state-of-the-art underwriting and technology experience, allowing simple... Read more of this article
Arch Capital Report 2020 4th Quarter Results
Arch Capital Group Ltd. announced their 2020 fourth quarter results. The results included: Net income available to Arch common shareholders of $533.1 million, or $1.30 per share, a 17.8% annualized return on average common equity, compared to $316.0 million, or $0.76 per share, for the 2019 fourth quarter; After-tax operating income available to... Read more of this article
Arch Announces Catastrophe Loss Estimates
Bermuda-based Arch Capital Group Ltd. has established a range of pretax catastrophe losses of $155 million to $165 million in the 2020 fourth quarter. The company said, “Arch Capital Group Ltd. reports that its 2020 fourth quarter results will be negatively impacted by a set of catastrophe events that occurred during the 2020 fourth quarter, including... Read more of this article
Papadopoulo Named President & CUO Of Arch
Arch Capital Group Ltd. today [Dec 29] announced that Nicolas Papadopoulo will be promoted to the position of President and Chief Underwriting Officer, effective January 1, 2021. A spokesperson said, “Papadopoulo joined Arch in 2001 and currently serves as Chairman and CEO of Arch Worldwide Insurance Group and Chief Underwriting Officer for Property... 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 Rating of “aa-” of Arch Reinsurance Ltd. [Bermuda] and its strategic affiliates. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” and the Long-Term Issue Credit Ratings [Long-Term IRs] of Arch Capital Group Ltd. [Arch Capital] [Bermuda]... Read more of this article
Arch & Watford: Revised Merger Agreement
Arch Capital Group and Watford Holdings today [Nov 2] announced a revised definitive agreement under which Arch will acquire all of the common shares of Watford for an increased price of $35.00 per share. A spokesperson said, “This revised all-cash consideration is valued at approximately $700 million and represents a premium of approximately 96%... Read more of this article
Arch Announces Catastrophe Loss Estimates
Bermuda-based Arch Capital Group has established a range of pretax catastrophe losses of $190 million to $210 million in the 2020 third quarter. The company said, “Arch Capital Group Ltd. reports that its 2020 third quarter results will be negatively impacted by a set of catastrophe events that occurred during the third quarter, including Hurricanes... Read more of this article
Arch Capital To Acquire Watford Holdings
Arch Capital Group and Watford Holdings have entered into a definitive agreement under which Arch will acquire all the common shares of Watford in an all-cash transaction valued at approximately $622 million. A spokesperson said, “Following closing, which is expected to occur in the first quarter of 2021, Watford will continue to operate as a... Read more of this article
