Welcome to our dedicated page for Arch Cap Group news (Ticker: ACGL), a resource for investors and traders seeking the latest updates and insights on Arch Cap Group stock.
Arch Capital Group Ltd. (NASDAQ: ACGL) is a Bermuda exempted company that provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. As part of the S&P 500 Index and the finance and insurance sector, Arch regularly issues news that is relevant to investors, policyholders and market observers.
This ACGL news page aggregates company announcements and third-party coverage related to Arch’s operations across its insurance, reinsurance and mortgage segments. Readers can follow updates on quarterly and annual financial results, including net income, underwriting income, combined ratios and segment performance, as reported in earnings releases and Form 8-K filings. The company also announces conference calls and webcasts for its results, along with details on how to access recordings and transcripts.
Beyond earnings, Arch Capital Group’s news flow includes items on capital management, such as share repurchase authorization changes and preferred share dividends, as well as financing arrangements like amendments to letter of credit facilities. In the mortgage insurance area, news may cover transactions such as mortgage insurance-linked note offerings used to obtain indemnity reinsurance on pools of mortgages.
Operational updates from subsidiaries and affiliates, including Arch Insurance North America, Arch MI, Arch RoamRight and Arch Global Services India, appear in the news as well. These may involve leadership appointments, office openings, recognition in industry awards and developments in travel insurance and Accident and Health products. Investors and followers of ACGL stock can use this page to monitor the company’s official announcements and sector-specific developments over time.
Arch Capital Group Ltd. (ACGL) has completed the acquisition of Watford Holdings Ltd., announced on Nov. 2, 2020. The partnership includes Kelso & Company and Warburg Pincus, owning approximately 30% each, while Arch holds around 40%. The completion of this transaction is viewed as a key step toward leveraging favorable market conditions to enhance Watford’s growth and success.
As of March 31, 2021, Arch reports $15.8 billion in capital, indicating a strong financial position to support this acquisition.
Arch Capital Group Ltd. (NASDAQ: ACGL) will release its 2021 second quarter results on July 28, 2021, after market close. The company has scheduled a conference call for investors and analysts at 11:00 a.m. ET on July 29, 2021, with a live webcast available on its website. A replay of the call will be accessible from July 29 at 2:00 p.m. ET until August 5, 2021. Arch Capital Group, which has approximately $15.8 billion in capital, provides global insurance and reinsurance services through its subsidiaries.
Arch Capital Group Ltd. (NASDAQ: ACGL) has priced a public offering of 20,000,000 Depositary Shares, each representing a 1/1,000th interest in a 4.550% Non-Cumulative Preferred Share, Series G, totaling $500 million. The proceeds will be used to redeem Series E Preferred Shares and for general corporate purposes. The offering closes on June 11, 2021. The Series G shares may be redeemed starting June 11, 2026, at $25,000 each, plus unpaid dividends. The underwriters include BofA Securities, J.P. Morgan, and others.
Arch Capital Group Ltd. (ACGL) announced the appointment of Christine Todd as Chief Investment Officer, effective June 7, 2021, pending regulatory approval. Todd, who brings over 30 years of experience, succeeds W. Preston Hutchings, who is retiring but will remain as a Senior Adviser. Hutchings significantly contributed to the firm, growing the investment portfolio from $6 billion to over $26 billion. Todd previously served as Head of Fixed Income, U.S. for Amundi US and is expected to lead the investment strategy and operations.
Arch Capital Group Ltd. (NASDAQ: ACGL) reported its Q1 2021 results, showing significant growth. Net income to common shareholders reached $427.8 million, or $1.05 per share, up from $133.7 million a year prior. The after-tax operating income was $239.8 million, or $0.59 per share, with a 7.8% annualized return on equity. Gross premiums written increased by 19.9% to $3.4 billion. The company experienced a combined ratio of 90.7%, improving from 91.5% in Q1 2020. Arch also repurchased 5.3 million shares for $179.3 million, reflecting strong shareholder returns.
Arch Capital Group Ltd. (NASDAQ: ACGL) projects Q1 2021 pretax catastrophe losses ranging from $180 million to $190 million, primarily due to winter storms Uri and Viola. These storms are expected to result in industry-wide losses of $14 billion to $16 billion, with ACGL's losses predominantly from its reinsurance segment. Although estimates are based on preliminary claims, actual losses may vary significantly. The report also notes ongoing exposure to COVID-19 claims.
Arch Capital Group Ltd. [NASDAQ: ACGL] will release its 2021 Q1 financial results after market hours on April 27, 2021. A conference call for investors is scheduled for April 28, 2021, at 11:00 a.m. ET, available via live webcast on the Company’s website. A replay of the call can be accessed from April 28, 2:00 p.m. ET to May 5, 2021. The Company, with approximately $15.8 billion in capital, provides global insurance, reinsurance, and mortgage insurance through its subsidiaries. Forward-looking statements involve risks and uncertainties, and actual results may vary.
Arch Capital Group Ltd. (NASDAQ: ACGL) announced its acquisition of Westpac Lenders Mortgage Insurance Limited (WLMI), a major Australian mortgage insurance provider, with shareholders’ equity of AUD 285.7 million as of September 30, 2020. This agreement allows WLMI to continue as Westpac’s exclusive LMI provider for 10 years. The acquisition aims to strengthen Arch's position in the Australian market and enhance its global mortgage insurance operations. The deal is subject to regulatory approvals and is anticipated to close later this year.
Arch Capital Group Ltd. (NASDAQ: ACGL) reported strong fourth-quarter results for 2020, with net income available to common shareholders of $533.1 million, or $1.30 per share, reflecting a 17.8% annualized return on equity. This compares favorably to $316.0 million, or $0.76 per share, in Q4 2019. After-tax operating income was $230.4 million, or $0.56 per share. Gross premiums written increased by 16.2% to $2.26 billion. The combined ratio improved to 88.3%, though underwriting income decreased by 12.1%. Book value per share rose 5.4% to $30.31. Overall, the results showcased a solid operational performance amidst a challenging market.
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.