Arch Cap Group Ltd Stock Price, News & Analysis

Arch Insurance North America, in collaboration with the Disability Management Employer Coalition (DMEC), is hosting a webinar on September 12, 2024, at noon ET. The webinar, titled '2024 Tools & Tactics Webinar: PFML Laws through 2026 — An Update for Multi-State Employers', will focus on updates to Paid Family and Medical Leave (PFML) programs in Delaware, Maine, Maryland, and Minnesota.

The session will cover changes to existing state laws, coordination of benefits, and key updates for employers with staff in these states. It offers 1 CEU credit for various professional certifications. Thomas Foschino, VP of Accident & Health at Arch Insurance, emphasizes the importance of staying informed about the upcoming wave of PFML laws. Complimentary registration is available using the code 24ARCH2.

Arch Capital Group (NASDAQ: ACGL) has appointed Dan Houston and Neal Triplett to its Board of Directors, effective immediately. Houston, Chairman and CEO of Principal Financial Group®, brings extensive financial services experience. Triplett, President and CEO of Duke University Management Company, offers 25 years of investment management expertise.

John Pasquesi, ACGL Board Chair, emphasized the appointments' role in broadening talent and perspectives. Jack Bunce, Chair of the Nominating and Governance Committee, highlighted Houston's leadership experience and Triplett's investment expertise as valuable additions. CEO Marc Grandisson views these appointments as validation of Arch's status as an emerging global market leader during a transformational growth period.

Arch Mortgage Insurance Company (Arch MI) has secured over $203 million of indemnity reinsurance through Bellemeade Re 2024-1 , covering a $30.5 billion mortgage portfolio. This transaction, Arch's first Mortgage Insurance-Linked Note (MILN) of 2024, was achieved by issuing $163 million in bonds and $41 million in direct reinsurance. The coverage primarily applies to MI policies issued from September 2023 through July 2024.

Bellemeade Re 2024-1 is funding its obligations through five classes of amortizing notes with 10-year legal final maturities, rated by DBRS Morningstar. Since 2015, Arch has completed 21 Bellemeade transactions, securing over $9.7 billion in indemnity reinsurance. This program remains a important component of Arch's risk and capital management strategy.

Arch Insurance North America, part of Arch Capital Group (Nasdaq: ACGL), has completed the acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses. The deal, initially announced on April 5, brings nearly 500 former Allianz employees to Arch, ensuring continuity for clients and brokers. Mark Lange, previously Chief Strategy Officer for Arch Insurance North America, will lead the new businesses as Chief Middle Market Executive.

This strategic move aims to enhance Arch Insurance's middle market offerings and drive growth in this sector. The acquisition emphasizes continuity and a customer-centric approach, with Arch focusing on earning the trust of existing clients and distribution partners. Goldman Sachs & Co. and J.P. Morgan Securities acted as financial advisors to Arch, while Willkie Farr & Gallagher LLP provided legal counsel.

Arch Capital Group (NASDAQ: ACGL) announced its Q2 2024 results. Net income for common shareholders reached $1.3 billion ($3.30/share), a significant rise from $661 million ($1.75/share) in Q2 2023. After-tax operating income was $981 million ($2.57/share), up from $726 million ($1.92/share) in Q2 2023. The combined ratio excluding catastrophic activity and prior year development improved to 76.7% from 79.7%.

Gross premiums written increased by 11.1% to $5.38 billion, and net premiums written rose by 10.3% to $3.78 billion. Book value per share grew by 6.9% to $52.75. Significant segment performance includes:

• Insurance: Gross premiums up by 7.5%, underwriting income slightly increased by 0.9%.
• Reinsurance: Gross premiums grew by 15.6%, underwriting income surged by 49.4%.
• Mortgage: Net premiums written increased by 4.2%, underwriting income rose by 13.4%.

Strong investment income and lower expense ratios contributed to the impressive performance.

Arch Insurance North America, a subsidiary of Arch Capital Group (Nasdaq: ACGL), has received regulatory approval for its acquisition of Allianz's U.S. MidCorp and Entertainment insurance businesses. The transaction is expected to close on August 1, 2024, pending customary closing conditions. This acquisition, initially announced earlier, marks a significant expansion for Arch Insurance in the U.S. market, particularly in the mid-sized corporate and entertainment sectors. The regulatory green light is a important step forward in finalizing this strategic move, which is likely to enhance Arch's market position and diversify its insurance portfolio.

Arch Capital Group (NASDAQ: ACGL) announced it will release its 2024 second quarter results after the close of regular stock market hours on Tuesday, July 30. The company will host a conference call for investors and analysts on Wednesday, July 31, at 11 a.m. ET. A live webcast of this call will be accessible through the Investors section of the company's website. Additionally, a recording of the webcast will be available on the site approximately two hours after the event and will remain archived for one year.

Pittco Management has invested $1.045 billion to acquire a 10% equity stake in Pershing Square through a primary equity sale transaction. The investment was part of a consortium that includes Arch Capital Group (ACGL), BTG Pactual, Consulta , ICONIQ Investment Management, and Menora Mivtachim Holdings. Pershing Square, a newly formed partnership, owns 100% of Pershing Square Capital Management. This marks a significant business development, aiming to drive further value creation within Pershing Square's strategic operations. Bill Ackman, CEO of Pershing Square, welcomed the consortium's long-term investment, highlighting the firm's strong foundation and future growth potential.

Pershing Square Capital Management (PSCM) has announced the sale of a 10% common equity interest in Pershing Square Holdco, a new partnership owning 100% of PSCM, for $1.05 billion to strategic investors including Arch Capital Group (ACGL). This sale involves an internal reorganization of PSCM's ownership structure, resulting in a deemed assignment under the Investment Advisers Act of 1940. The reorganization has been approved by the Pershing Square Holdings (PSH) board, ensuring no changes to PSCM's management team or its investment management role. Furthermore, an independent Board of Directors has been established. Bill Ackman remains the largest shareholder of the controlling The transaction aims to accelerate growth in assets under management and maintain high long-term returns for investors.