Arch Cap Group Ltd Stock Price, News & Analysis

Arch Capital Group Ltd. announced that it will release its 2021 third quarter results after market hours on October 27, 2021. A conference call for investors is scheduled for 11:00 a.m. Eastern Time on October 28, 2021 and will be available via live webcast on their website. A replay of the call will be accessible starting from October 28 at 2:00 p.m. Eastern Time until November 4, 2021. Arch Capital Group has approximately $16.7 billion in capital as of June 30, 2021.

Arch Capital Group Ltd. (ACGL) has completed the acquisition of Westpac Lenders Mortgage Insurance Limited (WLMI), an Australian mortgage insurance provider. This strategic move allows Arch to combine WLMI's operations with its existing Australian division, Arch LMI Pty Ltd., making WLMI the exclusive provider of lenders mortgage insurance to Westpac for a decade. Arch aims to enhance its position as a globally diversified mortgage credit risk insurer. With this acquisition, Arch strengthens its commitment to delivering innovative solutions across Australia.

Arch Capital Group Ltd. has announced the redemption of all 18,000 of its outstanding 5.25% Series E Non-Cumulative Preferred Shares on September 30, 2021. The redemption price will be $25,000 per share, with holders as of September 15, 2021, set to receive a third-quarter dividend of $328.125 per share. Post-redemption, the shares will cease to be outstanding and dividends will no longer accrue. The notice of redemption has been sent to registered holders, and inquiries can be directed to the redemption agent, American Stock Transfer & Trust Company.

Arch Capital Group Ltd. [NASDAQ: ACGL] has appointed Francis Ebong and Eileen Mallesch to its Board of Directors, effective immediately. Ebong, previously at Alphabet and Facebook, brings extensive technology and operational expertise, while Mallesch adds over 30 years of finance and risk management experience from her roles in various sectors, including insurance. The appointments aim to enhance the Board’s capabilities and focus on fintech transformation, positioning the company for future growth.

Arch Insurance has appointed Jamie Landsman as Vice President of Product Innovation and Strategy for its Accident & Health business unit. With over 20 years of experience, Landsman previously served at Chubb, enhancing their Affinity Markets segment. Jim Villa, Senior VP at Arch, noted that Landsman's expertise will bolster the company's product and distribution strategies amidst market opportunities. Arch Capital Group, the parent company, reported approximately $16.7 billion in capital as of June 30, 2021, and is focused on maintaining its leadership in insurance innovation.

Arch Capital Group Ltd. (NASDAQ: ACGL) reported strong second-quarter results for 2021, achieving a net income of $663.8 million ($1.63 per share), a significant increase from $288.4 million ($0.71 per share) in 2020. The after-tax operating income was $407.2 million ($1.00 per share), up from $16.6 million ($0.04 per share) year-on-year. Gross premiums written rose by 41.8% to $3.3 billion, with combined ratios improving to 82.0%. The percentage of loans in default on U.S. primary mortgage business decreased to 3.11%. Share buybacks totaled 7.8 million shares for $306 million.

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 1/1,000^th 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.