Reinsurance News
2nd July 2021
Arch Capital Group has officially wrapped its $622 million acquisition of Watford Holdings, roughly eight months after first signing a merger agreement. Arch and investment partners Kelso and Warburg Pincus pursued the merger agreement through an affiliated entity of which Arch owns approximately 40%, and funds managed by Kelso and Warburg ... Read the full article
23rd June 2021
Arch Reinsurance Ltd., the specialty property and casualty reinsurance subsidiary of Bermuda-based Arch Capital Group Ltd., is looking to acquire Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset). The proposed transaction, which is subject to regulatory approval, includes Somerset's motor managing general agent, distribution capabilities via direct and ... Read the full article
10th June 2021
Arch Insurance International, which includes Arch's insurance operations in Europe, Bermuda and Australia, has promoted Kirsten Valder to Chief Administrative Officer and Jason Kittinger to Chief Operating Officer (COO), effective June 30th, 2021. The promotions of both Valder and Kittinger form part of the company's long-term succession planning. Dennis Brand, current ... Read the full article
24th May 2021
Arch Capital Group has appointed Christine Todd to the role of Chief Investment Officer, effective June 7. Todd will report to Chief Executive Officer Marc Grandisson and have responsibility for setting the firm’s investment strategy and managing the day-to-day operations of the investment portfolio. She succeeds W. Preston Hutchings, who is retiring ... Read the full article
27th April 2021
Bermuda-based re/insurer Arch Capital Group Ltd. has agreed to provide reinsurance capacity to Delos Insurance Solutions to expand its coverage for wildfire-exposed homes in California. The reinsurance capacity will be provided by Arch Reinsurance Ltd. (Bermuda) and the Lloyd’s of London syndicate, Arch Syndicate 1955 (formerly Barbican Syndicate 1955). Broker Guy Carpenter ... Read the full article
16th April 2021
Bermuda-based insurer and reinsurer, Arch Capital Group Ltd., has announced a pre-tax catastrophe loss range of between $180 million to $190 million for the first-quarter of 2021, of which roughly 80% falls to its reinsurance segment. The up to $190 million loss range is almost entirely from natural catastrophe events that ... Read the full article
18th March 2021
The Global Mortgage Group of Arch Capital Group Ltd. has entered into a share purchase agreement with the Westpac Group to acquire Westpac Lenders Mortgage Insurance Limited (WLMI). WLMI is an Australian Prudential Regulation Authority (APRA) authorized captive lenders mortgage insurance (LMI) provider to Westpac. The business had shareholders’ equity of $AUD ... Read the full article
15th March 2021
Arch Insurance International, part of Arch Capital Group Ltd., has hired Argo Group's Steve O'Gorman to lead its newly launched transport and logistics insurance unit, effective immediately. The insurer's new division provides a range of specialist marine and P&C insurance solutions for the logistics and cargo segments, on a global basis. Additionally, ... Read the full article
18th February 2021
Arch Insurance International, a division of Arch Capital Group Ltd., has named Louis Tucker as Managing Director of Arch Managing Agency Limited, with immediate effect. Arch Managing Agency was formed in September 2020 as a single brand under which to combine Arch’s Lloyd’s managing agency units. As Managing Director, Tucker will ... Read the full article
10th February 2021
Bermuda domiciled Arch Capital Group, Ltd. has reported an increase in net income to $533.1 million for the fourth-quarter of 2020, as the performance of its reinsurance and mortgage segments more than offset an underwriting loss in the firm's insurance unit. Net income increased by 69% from the same period in ... Read the full article
22nd January 2021
Bermuda domiciled insurer and reinsurer, Arch Capital Group Ltd., has announced estimated pre-tax catastrophe losses of between $155 million and $165 million for the fourth-quarter of 2020. Arch explains that the losses are across its property / casualty insurance and reinsurance operations, net of reinsurance and reinstatement premiums. The loss estimate range ... Read the full article
15th October 2020
Legacy acquirer Enstar has written to the board of Watford Holdings offering a revised acquisition offer of $686 million, as well as strongly criticising its handling of previous takeover attempts and subsequent agreement with Arch. It was confirmed earlier this week that Arch had reached an agreement with Watford to ... Read the full article
14th October 2020
Bermuda-based re/insurer Arch Capital Group is anticipating catastrophe losses in the third quarter to fall between $190 million and $210 million. Catastrophe that occurred during the period include hurricanes Isaias, Laura, and Sally, the Derecho Windstorm, California Wildfires and other minor global events. Arch's estimate relates to its property casualty re/insurance segments ... Read the full article
9th September 2020
A consortium led by Bermuda-based re/insurer Arch Capital Group has put forward a $500 million offer to buy Watford Holdings, according to reports from Reuters. After pre-warning of sizeable investment losses as a result of COVID-19-induced financial market volatility, Watford this year announced a first quarter loss of almost $267 million. As ... Read the full article
30th July 2020
Arch Capital Group Ltd. has announced net income of $288.4 million for the second-quarter of 2020, while the insurer and reinsurer's combined ratio deteriorated year-on-year to 101.8%. Net income declined from the $458.6 million posted in the second-quarter of 2019, while the combined ratio jumped by more than 21 percentage points ... Read the full article
