|
 |
 |
|
|
|
|
Arch Capital Group Ltd.
Arch Capital Group Ltd., a Bermuda-based company [Nasdaq: ACGL] with over $4.3 billion in capital at March 31, 2008, writes insurance and reinsurance on a worldwide basis through its operations in Bermuda, the United States, Europe and Canada. Our subsidiaries provide a full range of property and casualty insurance and reinsurance products on a global basis, with a focus on specialty lines of business.
We launched an underwriting initiative in October 2001 to meet current and future demand in the global insurance and reinsurance markets. Since that time, we have attracted a proven management team with extensive industry experience and enhanced our existing global underwriting platform for our insurance and reinsurance businesses. It is our belief that our underwriting platform, our experienced management team and our strong capital base that is unencumbered by significant pre-2002 risks have enabled us to establish a strong presence in an attractive insurance and reinsurance marketplace.
Since late 2001, we raised additional capital in support of the underwriting activities of our insurance and reinsurance operations. In October 2001, the commencement of our underwriting initiatives included an equity capital infusion of $763.2 million led by funds affiliated with Warburg Pincus LLC and Hellman & Friedman LLC. In April 2002, we completed a public offering of 7,475,000 of our common shares and received net proceeds of $179.2 million and, in September 2002, we received net proceeds of $74.3 million from the exercise of class A warrants by our principal shareholders and other investors. In March 2004, we completed a public offering of 4,688,750 of our common shares and received net proceeds of $179.3 million. In May 2004, we completed the public offering of $300 million principal amount of our 7.35% senior notes due May 2034. In February 2006, we completed a public offering of $200 million of our 8.00% Non-Cumulative Preferred Shares, Series A, with liquidation preference of $25.00 per share. In May 2006, we completed a public offering of $125 million of our 7.875% Non-Cumulative Preferred Shares, Series B, with liquidation preference of $25.00 per share.
Insurance Operations
Our insurance operations are conducted in Bermuda, the United States, Europe and Canada. We operate in Bermuda through
Arch Insurance (Bermuda), a division of Arch Reinsurance Ltd. In the U.S., our principal insurance subsidiaries are Arch Insurance Company, Arch Excess & Surplus Insurance Company and Arch Specialty Insurance Company. The headquarters for the U.S. Insurance group is in New York City, with regional offices located in Chicago, Atlanta, San Francisco and an additional location in New York City. Arch Insurance Company also has branch offices in Toronto. Our European operations are conducted through Arch Insurance Company (Europe) Limited, based in London, with a branch office in Frankfurt, Germany.
Reinsurance Operations
Our reinsurance operations are conducted through our principal reinsurance subsidiaries,
Arch Reinsurance Ltd., based in Bermuda, and Arch Reinsurance Company, based in Morristown, New Jersey.
|
|
