Hashtag: #ArchCapital
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
Arch Complete Acquisition UK Commercial Lines
Arch Insurance Europe has completed the acquisition of the UK Commercial Lines business owned by The Ardonagh Group and part of its Geo Underwriting [Geo] operating segment. The acquired business, which generated more than £150 million of Gross Written Premium in 2017, will become the newly formed Arch UK Regional Division, focused on commercial property,... Read more of this article
Arch Announces Closing Of McNeil Acquisition
Bermuda-based Arch Capital Group Ltd. announced the completion of its previously disclosed acquisition of McNeil & Co. [McNeil], a nationwide leader in specialized risk management and insurance programs. McNeil & Co., headquartered in Cortland, New York, will operate as an independent, wholly owned subsidiary of Arch Insurance. “We are excited... Read more of this article
Arch Announces Strategic Leadership Changes
Arch Insurance announced Hugh Sturgess will assume the role of Chief Executive Officer, Arch Insurance International, effective Jan. 1, 2019, subject to regulatory approvals. Arch Insurance International includes Arch’s insurance operations in Europe, Bermuda and Australia. Mr. Sturgess has been with Arch Insurance since 2005 and is currently President... Read more of this article
