Hashtag: #ArchCapital
Arch Pledges $1M For Global Covid-19 Relief
Arch Capital Group announced plans to make $1 million in corporate donations, double its employee giving match for charitable contributions and establish an employee assistance fund in response to the COVID-19 pandemic. “Arch’s initial pledge will aid organizations primarily focused on food insecurity, health issues in underserved and high-risk... Read more of this article
Arch Capital Enters Agreement With Natixis
Arch Capital Group Ltd. has entered into a share purchase agreement with Natixis regarding the acquisition of a 29.5% stake in Coface, a France-based leader in the global trade credit insurance market. “The transaction will be completed at a price of €10.70 per share [dividend until closing attached], corresponding to a transaction value of... Read more of this article
Arch Intends To Obtain Majority Stake In PMAP
Arch Reinsurance has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia Pacific [PMAP]. The company said, “Arch Reinsurance [Arch Re], a wholly owned subsidiary of Arch Capital Group Ltd., has announced that it has entered into an agreement in principle to obtain a majority stake in Precision Marketing... Read more of this article
Arch Capital Reports 2019 Fourth Quarter Results
Bermuda-based Arch Capital Group Ltd. announced its 2019 fourth quarter results. The results included: Net income available to Arch common shareholders of $316.0 million, or $0.76 per share, a 12.0% annualized return on average common equity, compared to $126.1 million, or $0.31 per share, for the 2018 fourth quarter; After-tax operating income available... Read more of this article
Arch Closes Acquisition Of Barbican Group
Arch Capital Group Ltd. announced the completion of its previously disclosed acquisition of Barbican Group Holdings Limited, including Barbican Managing Agency Limited, Lloyd’s Syndicate 1955, Castel Underwriting Agencies Limited and other associated entities. “We are excited to complete this transaction, which deepens Arch’s commitment to both... Read more of this article
Arch Re To Acquire Global Credit From Aspen Re
Arch Reinsurance , a wholly owned subsidiary of Arch Capital Group Ltd., and Aspen Reinsurance, the reinsurance business segment of Aspen Insurance Holdings Limited, jointly announced that Arch Re has entered into a renewal rights agreement with Aspen Re on its global credit and surety reinsurance business after Aspen Re’s decision to exit the line.... Read more of this article
Arch Appoints Moira Kilcoyne & Thomas Watjen
Arch Capital Group Ltd. announced that Moira Kilcoyne and Thomas Watjen will be appointed to the Company’s Board of Directors, effective Jan. 1, 2020. Ms. Kilcoyne is a 30+ year technology industry veteran with extensive financial services experience including serving as Co-Chief Information Officer [CIO] of Morgan Stanley, where she sat on the firm’s... 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 Rating [Long-Term ICR] of “aa-” of Arch Reinsurance Ltd. [Arch] [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... Read more of this article
Arch Announces Catastrophe Loss Estimates
Arch Capital Group Ltd. announced it expects to report third quarter 2019 pre-tax catastrophe losses of approximately $65 million to $75 million, net of reinsurance recoveries and reinstatement premiums. “These losses are primarily from Hurricane Dorian and Typhoon Faxai. At this time, there are significant uncertainties surrounding the scope... Read more of this article
Arch Insurance & Marsh Launch Blue Vault
Arch Insurance [UK] Limited, in collaboration with Marsh, the world’s leading insurance broker and risk adviser, announced the launch of Blue Vault, a new solution to provide insurance protection for the secure storage of digital asset private keys held in traditional vault facilities. Private keys are the alphanumeric data that enable the transaction... Read more of this article
Arch To Acquire Ventus Risk Management
Arch Insurance North America [Arch] announced it has entered into a definitive agreement to acquire Ventus Risk Management [Ventus], a technology and analytics-driven managing general underwriter [MGU] that specializes in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Ventus was founded in 2016, with the... Read more of this article
Arch Capital To Acquire Barbican Group Holdings
Arch Capital Group Ltd. has entered into an agreement to purchase Barbican Group Holdings Limited from funds managed by Carlson Capital, a U.S.-based alternative asset management firm, subject to regulatory approval. The acquisition includes Barbican Managing Agency Limited, Lloyd’s Syndicate 1955, Lloyd’s Syndicate 1856 [Arcus], Lloyd’s Special... Read more of this article
Arch Capital Reports Second Quarter Results
Bermuda-based Arch Capital Group Ltd. announced its 2019 second quarter results. The results included: Net income available to Arch common shareholders of $458.6 million, or $1.12 per share, a 19.0% annualized return on average common equity, compared to $233.2 million, or $0.56 per share, for the 2018 second quarter; After-tax operating income available... Read more of this article
Arch Capital Reports First Quarter Results
Bermuda-based Arch Capital Group Ltd. announces its 2019 first quarter results. The results included: Net income available to Arch common shareholders of $438.1 million, or $1.07 per share, a 19.5% annualized return on average common equity, compared to $137.3 million, or $0.33 per share, for the 2018 first quarter; After-tax operating income available... Read more of this article
Pasquesi To Succeed Iordanou As Chairman
Arch Capital Group Ltd. announced that John Pasquesi will succeed Constantine “Dinos” Iordanou as Chairman of its Board of Directors in September upon the completion of Mr. Iordanou’s term. Mr. Pasquesi is currently Lead Director of the Board of Directors and has been a member of the Board and Vice Chairman since 2001. Mr. Pasquesi is the managing... Read more of this article
Arch Updates Catastrophe Loss Estimates
During the fourth quarter of 2018, there were a number of catastrophes around the globe, including Hurricane Michael, wildfires in California and a series of smaller events. Arch Capital Group Ltd. has established a range of pre-tax losses of $110 million to $130 million for these events, net of reinsurance recoveries and reinstatement premiums. “For... Read more of this article
