Arch Capital Group

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Arch Capital Group Ltd.
TypePublic
Nasdaq: ACGL
NASDAQ Financial-100 Component
Russell 1000 Component
IndustryInsurance & Finance
Founded1995 (as Risk Capital Holdings, Inc.)
FounderPeter A. Appel (former President and CEO)
HeadquartersHamilton, Bermuda
Key people
John M. Pasquesi
(Chairman)
Marc Grandisson
(President & CEO)
François Morin
(Executive Vice President & CFO)[1]
RevenueIncrease US$6.98 billion (2019)[2]
Number of employees
4500 (2020)
Websitehttps://www.archcapgroup.com

Arch Capital Group Ltd. (Arch Capital or ACGL) is a Bermuda-based public limited liability company which writes insurance, reinsurance and mortgage insurance on a worldwide basis, with a focus on specialty lines, the segment of the insurance industry where the more difficult and unusual risks are written. It has operations in Bermuda, the United States, Canada, Europe, and Australia[3] and, in the case of mortgage insurance, Hong Kong.[4]

History[]

Risk Capital Holdings, Inc. was formed in Delaware in March 1995 and commenced operations in September 1995, after an initial public offering.[citation needed]

In May 2000, Risk Capital Holdings sold substantially all of the reinsurance operations of Risk Capital Reinsurance Co., its wholly owned subsidiary, to Folksamerica Reinsurance Co., and at the same time announced it was changing its name to Arch Capital Group Ltd.[5][6]

Arch Mortgage Guaranty began operations in 2015 and, in August 2016, it bought , AIG‘s mortgage insurance unit, for US$3.4 billion,[7] making ACGL the world’s largest mortgage insurer.[8]

References[]

  1. ^ Arch website, Board of Directors, accessed March 29, 2018.
  2. ^ "Arch Capital Group Ltd. 2019 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 2020.
  3. ^ Arch website, About Arch, accessed March 29, 2018.
  4. ^ Arch website, About Mortgage Insurance, accessed March 29, 2018.
  5. ^ Folksamerica to acquire Risk Capital Re, January 23, 2000; accessed March 29, 2018.
  6. ^ Risk Capital Holdings becomes Arch Capital, May 9, 2000; accessed March 29, 2018.
  7. ^ Scism, Leslie; Lublin, Joann S. (2016-08-16). "AIG Reaches Deal to Sell Mortgage-Insurance Unit to Arch Capital for About $3.4 Billion". The Wall Street Journal. ISSN 0099-9660. Retrieved 2016-08-18.
  8. ^ Arch website, About Arch - History.


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