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. (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.
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.
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