Arch Capital Group
Arch Capital Group Ltd. is a global provider of insurance, reinsurance, and mortgage insurance, headquartered in Bermuda with operations in over 60 offices worldwide. The company, trading under 'ACGL' on NASDAQ, is part of the S&P 500 index and has a diverse range of subsidiaries in various insurance sectors.
Company Overview
Arch Capital Group Ltd. provides insurance, reinsurance, and mortgage insurance on a worldwide basis. Headquartered in Bermuda, the company operates globally from more than 60 offices in North America, Europe, Asia, and Australia. Arch Capital trades its common shares under the 'ACGL' ticker on the NASDAQ and has been a part of the S&P 500 index since its inclusion. The company has approximately $22.1 billion in capital as of March 31, 2024.
History
Arch Capital Group Ltd. was formed in 2001. Over the years, the company has grown both organically and through strategic acquisitions. Notably, in 2024, Arch Capital acquired Allianz’s U.S. MidCorp and Entertainment Businesses, further expanding its market presence.
Financial Performance
Arch Capital Group Ltd. reported net income available to common shareholders of $1.1 billion for the first quarter of 2024. The company has a combined ratio excluding catastrophic activity and prior year development of 80.8% for the same period. The book value per common share stands at $49.36 as of March 31, 2024. These figures reflect Arch Capital's robust financial health and operational efficiency.
Sustainability Initiatives
Arch Capital Group Ltd. released its 2023 Sustainability Report, Sustainability Accounting Standards Board Report, and Task Force for Climate-related Financial Disclosures. The company has a Chief Environmental, Social and Governance (ESG) Officer responsible for coordinating its ESG efforts, underscoring Arch Capital’s commitment to sustainability and responsible business practices.
Subsidiaries
Arch Capital Group Ltd. has several subsidiaries that enhance its service offerings. Thimble is an insurtech platform for small business customers and agents. RoamRight provides travel protection plans. Somers Re Ltd. specializes in global specialty property and casualty insurance and reinsurance. Ventus Risk Management offers coastal commercial property insurance solutions. Other subsidiaries include McNeil & Company, Somerset Bridge Group, and Arch Mortgage Insurance Company, each serving unique market segments with specialized products and services.