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Arch Capital Group Ltd.
Company typePublic
Industry
Founded1995; 29 years ago (1995)
Founders
  • Robert Clements
  • Peter A. Appel
HeadquartersHamilton, Bermuda
Key people
  • John M. Pasquesi (Chairman)
  • Marc Grandisson (President & CEO)
  • François Morin (CFO)
  • Paul Ingrey (former Chairman and CEO), Arch Reinsurance
  • Dinos Iordanou (former President and CEO)
RevenueIncrease US$9.25 billion (2021)
1,562,384,000 United States dollar (2022) Edit this on Wikidata
Increase US$2.24 billion (2021)
Total assetsIncrease US$45.11 billion (2021)
Total equityDecrease US$13.55 billion (2021)
Number of employees
c. 5,800 (February 2023)
Websitearchgroup.com

Arch Capital Group Ltd. (Arch Capital or ACGL) is an American Bermuda-based public limited 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, Australia[1] and, in the case of mortgage insurance, Hong Kong.[2]

History

The company was founded in 1995 by Robert Clements as Risk Capital Holdings, and underwent an initial public offering that same year.[3]

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.[4][5]

Arch Mortgage Guaranty began operations in 2015 and, in August 2016, it bought United Guaranty, AIG‘s mortgage insurance unit, for US$3.4 billion,[6] making ACGL the world’s largest mortgage insurer.[7]

Notable employees

References

  1. ^ Arch website, About Arch, accessed March 29, 2018.
  2. ^ Arch website, About Mortgage Insurance, accessed March 29, 2018.
  3. ^ McLeod, Douglas (7 October 2007). "Visionary builds industry capital". Business Insurance. Retrieved 26 December 2023.
  4. ^ Folksamerica to acquire Risk Capital Re, January 23, 2000; accessed March 29, 2018.
  5. ^ Risk Capital Holdings becomes Arch Capital, May 9, 2000; accessed March 29, 2018.
  6. ^ 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.
  7. ^ Arch website, About Arch - History.

External links

Selected companies of the Nasdaq Financial-100 index
Major insurance and reinsurance companies
Categories