Arch Cap Group Ltd Stock Price, News & Analysis

Arch Capital Group Ltd. (ACGL) announces that its fourth-quarter 2020 results will be adversely affected by catastrophe losses estimated between $155 million and $165 million. This includes losses from Hurricanes Delta and Zeta and updated estimates from prior events. The company also reported no significant changes in its COVID-19 exposure estimates. There is considerable uncertainty regarding the number of claims and overall damages. As of September 30, 2020, Arch had approximately $15.2 billion in capital, with ongoing assessments around various market risks and the inherent unpredictability of catastrophic events.

Arch Capital Group Ltd. (NASDAQ: ACGL) reports strong financial results for Q3 2023, showcasing a net income of $150 million and a growth in gross written premiums to $1 billion. The combined ratio improved to 92.5, reflecting enhanced underwriting efficiency. The company announced a dividend increase of 10%, demonstrating commitment to shareholder returns. Additionally, Arch's diversified portfolio continues to minimize risk and maximize opportunities in the current market.

Arch Capital Group Ltd. (NASDAQ: ACGL) has announced the promotion of Nicolas Papadopoulo to President and Chief Underwriting Officer effective Jan. 1, 2021. Papadopoulo, who joined the company in 2001, currently oversees multiple segments, including Insurance, Reinsurance, and Mortgage. CEO Marc Grandisson praised Papadopoulo's leadership and underwriting skills, emphasizing the strategic alignment this move brings to the company. As of September 30, 2020, Arch Capital had approximately $15.2 billion in capital.

AM Best has affirmed Arch Capital Group Ltd.'s (ACGL) Financial Strength Rating (FSR) of A+ (Superior) and Long-Term Issuer Credit Rating (ICR) of 'aa-'. The outlook for these ratings is stable, reflecting strong operating performance and a robust balance sheet. Arch has demonstrated strong management and risk-adjusted capital position despite market challenges. AM Best's evaluation indicates effective management of the (re)insurance cycles and stress-test scenarios, underlining Arch's resilience. The ratings extend to Arch's subsidiaries, signifying overall stability.

Arch Capital Group Ltd. (NASDAQ: ACGL) announced a revised agreement to acquire Watford Holdings Ltd. (NASDAQ: WTRE) for $35.00 per share, valuing the transaction at approximately $700 million. This price represents a 96% premium over Watford's share price before acquisition talks. The deal is set to close in Q1 2021, pending regulatory and shareholder approvals. Following the acquisition, Arch will own 40% of the new entity, with Warburg Pincus and Kelso each holding 30%. The independent board of Watford has approved the agreement, recommending it to shareholders.

Arch Capital Group Ltd. (NASDAQ: ACGL) has reported that its third-quarter 2020 results will be adversely affected by catastrophe events, estimating pretax losses of $190 million to $210 million, primarily due to Hurricanes Isaias, Laura, and Sally, along with other global incidents. The company has also accounted for ongoing COVID-19 claims, estimating an additional $10 million to $15 million. These estimates are based on preliminary claims data and modeling techniques, with actual losses potentially varying significantly from these figures.

Arch Capital Group Ltd. (ACGL) has announced a definitive agreement to acquire all common shares of Watford Holdings Ltd. (WTRE) in a cash transaction valued at approximately $622 million. Each Watford shareholder will receive $31.10 per share, reflecting a premium of 74% over the share price prior to transaction rumors. The deal, expected to close in Q1 2021, will allow Watford to operate independently under Arch's financial umbrella. Approval from Watford’s shareholders and regulatory bodies is required, while Arch will fund the acquisition using its balance sheet.

Arch Capital Group Ltd. [NASDAQ: ACGL] will release its 2020 third quarter results post-market on October 27, 2020. A conference call for investors is scheduled for October 28 at 11:00 a.m. ET, accessible via the company’s website. A replay will be available from 2:00 p.m. ET on the same day until November 4, 2020. Arch Capital, based in Bermuda, has approximately $14.70 billion in capital as of June 30, 2020, providing global insurance and reinsurance through its subsidiaries. Cautionary notes highlight that forward-looking statements involve risks and uncertainties that could impact actual results.