Hashtag: #ArchCapital
AM Best Affirms Credit Ratings Of Arch Capital
A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating [FSR] of A+ [Superior] and the Long-Term Issuer Credit Ratings [Long-Term ICRs] of “aa-” of Arch Reinsurance Ltd. [Arch] [Bermuda] and its strategic affiliates. A.M. Best also has removed from under review with developing implications... Read more of this article
Arch Announces $200 Million Public Offering
Bermuda-based Arch Capital Group Ltd. [ACGL] has priced an underwritten public offering of 8,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a 5.45% Non-Cumulative Preferred Share, Series F, of ACGL. The public offering price is $25 per Depositary Share for an aggregate public offering price of $200 million. The underwriters... Read more of this article
Arch Announces Closing Of Acquisition
Bermuda-based Arch Capital Group Ltd. [ACGL] announced that on July 1, 2017, it completed its previously announced acquisition of AIG United Guaranty Insurance [Asia] Limited from American International Group, Inc. [AIG]. Arch plans to immediately change the name of the company to operate as Arch MI Asia Limited [Arch MI Asia]. This acquisition adds... Read more of this article
Arch Announces Closing Of Secondary Offering
Bermuda-based Arch Capital Group Ltd. [ACGL] announced that an underwritten public secondary offering of 6,381,410 common shares by certain selling shareholders affiliated with American International Group, Inc. has closed. The public offering price is $92.50 per common share for an aggregate public offering price of $590,280,425. The underwriters... Read more of this article
Arch To Sponsor Island Games Golf Teams
The Bermuda Golf Association [BGA] announced that Arch Capital Group Ltd. will be the lead sponsor for the Bermuda men’s and ladies golf teams competing at the 2017 NatWest Island Games in Gotland, Sweden from June 24-30. Keen Ltd. and Red Laser Ltd. have also agreed to be supporting sponsors of Team Bermuda for the 2017 Games and the upcoming 2017/18... Read more of this article
Arch Capital Reports 2017 First Quarter Results
Bermuda-based Arch Capital Group Ltd. reportED that net income available to Arch common shareholders for the 2017 first quarter was $241.9 million, or $1.74 per share, compared to $149.3 million, or $1.20 per share, for the 2016 first quarter. The Company’s net income available to Arch common shareholders represented an annualized return on average... Read more of this article
Arch Re Form Arch Underwriters Gulf Limited
Arch Reinsurance Ltd., Bermuda, announced the formation of Arch Underwriters [Gulf] Limited [AUGL] to be based in the Dubai International Financial Center [DIFC], UAE, subject to final approval from the Dubai Financial Services Authority [DFSA]. AUGL will have underwriting authority for Arch Re, which holds a financial strength rating of ‘A+’ from... Read more of this article
Arch Capital Fourth Quarter Net Income: $62.4M
Bermuda-based Arch Capital Group Ltd. reports that net income available to Arch common shareholders for the 2016 fourth quarter was $62.4 million, or $0.50 per share, compared to $53.1 million, or $0.42 per share, for the 2015 fourth quarter. The Company’s net income available to Arch common shareholders represented an annualized return on average... Read more of this article
Arch To Sponsor BNT Children’s Nature Walk
The Bermuda National Trust announced that Arch Capital Group has agreed to sponsor the Bermuda National Trust’s Children’s Nature Walk at Spittal Pond for the next three years. Arch’s decided to support the annual event, which takes place during the February mid-term break on Thursday, February 16th, 2016 from 9.30am to 12 noon after hearing... Read more of this article
Arch Downgraded Following Acquisition Of UGC
Moody’s Investors Service has downgraded the senior unsecured debt rating of Arch Capital Group Ltd. to Baa1 from A3 and the insurance financial strength [IFS] ratings of Arch Capital’s principal P&C [re]insurance operating subsidiaries to A2 from A1. A statement from the ratings agency said, “The outlook for these ratings is... Read more of this article
Arch Capital Group Closes Acquisition Of UGC
Bermuda-based Arch Capital Group has completed its previously announced acquisition of United Guaranty Corporation [UGC] from American International Group, Inc. [AIG] at year-end 2016. “The acquisition of UGC expands the scale of Arch’s existing mortgage insurance businesses by combining UGC’s position as the market leader in the U.S. private... Read more of this article
Reinsurers Donate For Girls STEAM Education
The Bermuda High Schoool for Girls announced that Arch Capital Group Ltd. and RenaissanceRe will each make a significant gift to the school in support of advancing its STEAM [Science, Technology, Engineering, Art & Design and Mathematics] programme. Work will begin in 2017 to advance curricular and extra-curricular offerings, upgrade the science... Read more of this article
