}
Arch Capital Group Ltd. (Arch Capital or ACGL) is an American Bermuda-based
public limited liability company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be f ...
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 and, in the case of mortgage insurance, Hong Kong.
History
Risk Capital Holdings, Inc. was formed in
Delaware
Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent ...
in March 1995 and commenced operations in September 1995, after an
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
.
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.
Arch Mortgage Guaranty began operations in 2015 and, in August 2016, it bought
United Guaranty
United may refer to:
Places
* United, Pennsylvania, an unincorporated community
* United, West Virginia, an unincorporated community
Arts and entertainment Films
* ''United'' (2003 film), a Norwegian film
* ''United'' (2011 film), a BBC Two f ...
,
AIG
American International Group, Inc. (AIG) is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions. , AIG companies employed 49,600 people.https://www.aig.com/content/dam/aig/amer ...
‘s
mortgage insurance
Mortgage insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors in mortgage-backed securities for losses due to the default of a mortgage loan. Mortgage insurance can b ...
unit, for US$3.4 billion, making ACGL the world’s largest mortgage insurer.
[Arch website]
About Arch - History.
/ref>
Notable employees
*Meredith Whitney
Meredith Ann Whitney (born November 20, 1969) is an American businesswoman hailed as “The Oracle of Wall Street” by ''Bloomberg''. She is known for successfully forecasting the difficulties of Citigroup and other major banks during the financ ...
(born 1969), businesswoman
References
External links
*
Financial services companies established in 1995
Insurance companies of Bermuda
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