Reinsurance News

Arch Capital Group

Arch gets negative outlook from A.M. Best on United Guaranty risks

31st August 2017

Bermudian insurance and reinsurance firm Arch Capital Group Ltd. and its Arch Reinsurance Ltd. subsidiary have both had negative outlooks assigned to their credit ratings by A.M. Best. The negative outlooks are due to A.M. Best's view that Arch has experienced a "significant increase in financial leverage" due to the issuance ... Read the full article

Arch completes AIG United Guaranty Insurance (Asia) takeover

5th July 2017

Arch Capital Group Ltd. has now announced that on July 1st, 2017, it completed its acquisition of American International Group, Inc.'s (AIG) subsidiary, AIG United Guaranty Insurance (Asia) Limited. Arch has said that it plans to immediately change the company name to Arch MI Asia Limited (Arch MI Asia), and that Tak ... Read the full article

Arch Insurance grows Travel business division with new hires

30th June 2017

Insurance and reinsurance provider, Arch Capital Group Ltd.'s subsidiary, Arch Insurance Group, Inc., has bolstered its Travel business division with a number of new appointments, effective June 5th, 2017. Both Cory Sobczyk and Dan Povondra have joined Arch as Vice Presidents of Business Development, while Lynn Barty has joined the firm ... Read the full article

Fitch continues to assess United Guaranty impact on Arch

22nd June 2017

Ratings agency Fitch is maintaining a negative rating watch on the debt of insurance and reinsurance specialist Arch Capital Group Ltd., in the wake of the firms acquisition of mortgage insurance player United Guaranty Corporation from AIG. Bermudian re/insurer Arch completed the acquisition of United Guaranty from insurance giant AIG ... Read the full article

Arch Re appoints François Dagneau as CEO of Canada branch

19th June 2017

Arch Reinsurance Company has named François Dagneau as the new Chief Executive Officer of its Canada branch, replacing Patrick McGuiness, who is retiring from the company. Dagneau, who has a 25 year career in the insurance and reinsurance market, joins Arch Re's Canadian operations from reinsurance broker Aon Benfield, where he ... Read the full article

AIG could raise as much as $670m from Arch share sale

14th June 2017

Global insurer AIG is set to raise up to $670 million from the sale of shares it holds in Bermuda-based insurance and reinsurance specialists Arch Capital Group Ltd. The secondary share offering has now closed, with the 6,381,410 common shares offered by affiliates of American International Group, Inc. priced at $92.50 ... Read the full article

AIG to sell $600m Arch shares gained from United Guaranty sale

9th June 2017

Insurer AIG is to sell $600 million worth of shares it owns in Bermudian insurance and reinsurance group Arch Capital Group Ltd., a holding that AIG gained when it sold mortgage insurer United Guaranty to Arch. Arch completed its acquisition of United Guaranty Corporation (UGC) from American International Group (AIG) ... Read the full article

Arch reveals $38m Q2 property facultative reinsurance loss

7th June 2017

Bermudian insurance and reinsurance group Arch Capital Group Ltd. has revealed what it terms as "unusually high" levels of losses in its property facultative reinsurance book during the second-quarter of 2017. The company says that it expects that second quarter 2017 pre-tax underwriting income will experience around a $38 million hit ... Read the full article

Arch moves into Australian market for mortgage re/insurance risk

12th May 2017

Insurer and reinsurer Arch Capital Group's eased entry into the Australian market for mortgage re/insurance has impacted established reinsurance names, as the firm's capabilities in the marketplace begin to be tested. A recent article on via Banking Day, explores the entry of Arch Capital Group in the Australian mortgage ... Read the full article