Manager, Public Relations See here for a complete list of exchanges and delays. S&P Global Ratings Arch Reinsurance Ltd. to Acquire Somerset Bridge Group Thank you for your interest in the U.S. Securities and Exchange Commission. Keeping these cookies enabled helps us to improve our website and display content that is more relevant to you and your interests. Create your Watchlist to save your favorite quotes on Nasdaq.com. Arch Re originally announced its plan to acquire Somerset on June 23, 2021. +1 908 439 2200, ext. Forward-looking statements involve our current assessment of risks and uncertainties. Arch Reinsurance Europe Underwriting Designated Activity Company Entity featured on Fitch Ratings. Fidelity Investments forms retail annuities and pension risk transfer | Arch Re supplies meaningful capacity to the global reinsurance marketplace. Exhibit - SEC.gov 5644 About Arch Capital Group Ltd. Arch Capital Group Ltd., a publicly listed Bermuda exempted company with approximately $15.8 billion in capital at March 31, 2021, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Headquartered in the United States, the company does business in over . Third-party cookies include performance cookies and targeted or advertising cookies. NEW YORK/LONDON, July 11 (Reuters) - One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. 5159 Colette La Pointe +44 (0)7976713690 / Colette.lapointe@fticonsulting.com, Internet Explorer presents a security risk. Farmers Insurance pulling out of certain home policies in Florida AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Vanessa Hardy Pickering to Join Arch Re Ltd. As Chief Financial Officer Arch Capital Group Outlook Revised To Stable On Improved P/C Performance; U.S. Mortgage Insurance Subsidiaries Upgraded. Actual events and results may differ materially from those expressed or implied in these statements. Arch Reinsurance Ltd. | LinkedIn Source: Arch Reinsurance Ltd. The outlook of these Credit Ratings (ratings) is stable. Information on the new company is limited and the Soteria Re website reads coming soon. However, on LinkedIn, Paolo Fiandesio, former Chief Risk Officer (CRO) at Resolution Re, has announced that he is starting a new position as CRO at Soteria Re. Cautionary Note Regarding Forward-looking Statements 5087 Or find and follow Reinsurance News on social media. Director, Public Relations Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. On June 20th, 2023, Soteria Re, which is owned directly by Soteria Reinsurance . To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Source: Arch Reinsurance Ltd. ALL RIGHTS RESERVED. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Arch Reinsurance Ltd., part of Arch Capital Group Ltd., is a global leader in the specialty property and casualty reinsurance marketplace. AXA has been trying to reduce the exposure of its AXA XL property and casualty (P&C) division - which houses XL Re - in an effort to make earnings more predictable. Performance cookies collect information about how you use our website, which helps us improve functionality and your user experience. Christopher Sharkey For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Bests Credit Ratings and AM Best Rating Action Press Releases. OLDWICK, N.J.--(BUSINESS WIRE)-- We reserve the right to block IP addresses that submit excessive requests. -- a- on senior unsecured debt You can find out more about which cookies we are using or turn them off at any time in settings. Arch Insurance (UK) Limited, formerly Arch Insurance Company (Europe) Limited. Arch has demonstrated that it will actively manage the (re)insurance cycles. Location Dubai, UAE Dublin, Ireland Arch Reinsurance Europe Underwriting dac Arch Capital Group Ltd. About Us Locations Dubai, UAE Gulf Reinsurance Ltd. Emirates Financial Towers N 416 4th Floor North Tower Dubai United A. Arch Reinsurance Company: Delaware: Arch Reinsurance Europe Underwriting Designated Activity Company: Ireland: Arch Reinsurance Ltd. Bermuda: Arch Services Holdings Inc. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. We have 220,000+ readers every month & 25,000+ email subscribers. The stable outlooks reflect AM Bests expectations that the groups strongest level of balance sheet strength will continue to be supported by strong and stable operating performance, favorable reserve development, diverse business profile and well-defined ERM program. SUBSIDIARIES OF REGISTRANT. Targeted or advertising cookies collect information about your browsing habits. SUBSIDIARIES OF REGISTRANT. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. SUBSIDIARIES OF REGISTRANT. Established in 2008 as a Gulf Cooperation Council (GCC) home-based reinsurer, Gulf Reinsurance Ltd. (Gulf Re) originally formed as a 50/50 joint venture between Arch and Gulf Investment Corporation (GIC) and became a wholly owned subsidiary of Arch in 2015. Forward-looking statements involve our current assessment of risks and uncertainties. Arch Capital Group, Ltd. (and Subsidiaries) - Fitch Ratings Rating Report / Fri 26 Aug, 2022. Our headquarters are in Morristown, New Jersey, with additional underwriting offices in the Chicago area. This has caused the reinsurance business to shrink, with revenues dropping by nearly a third last year to $3.2 billion, according to AXA's 2022 accounts. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Visit McNeil & Co. RoamRight Website Privacy & Cookies and Disclaimer. All statements other than statements of historical fact included in or incorporated by reference in this release are forward-looking statements. Note: We do not offer technical support for developing or debugging scripted downloading processes. -- bbb+ on subordinated debt Arch Reinsurance Ltd. - lei.report The industry leader for online information for tax, accounting and finance professionals. Somerset brings strong product and distribution capabilities. Senior Financial Analyst For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Targeted or advertising cookies collect information about your browsing habits. Arch Capital Group; Insurance; Reinsurance; Mortgage; Investors; News; Search site. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Arch Reinsurance Limited employs expert underwriting, skilled claims management and outstanding service to expand the possibilities for its clients worldwide. The FSR of A+ (Superior) and the Long-Term ICRs of aa- have been affirmed with stable outlooks for Arch Reinsurance Ltd. and its following affiliates: The following Long-Term IRs have been affirmed with stable outlooks: Arch Capital Group Ltd. Greg Hare 336 333 0416 ghare@archgroup.com, FTI Consulting Offerings; Platforms; Claims; Careers at Arch Re; More Products & Services. Third-party websites may use them to remember that you have visited a website, and this information is shared with other organisations such as media publishers. AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Bests Recent Rating Activity web page. Arch Re Announces Intent to Acquire Majority Stake in Precision Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. US investment giant Fidelity Investments has formed Soteria Reinsurance Ltd., a newly incorporated Class C insurer registered in Bermuda that will focus on the US retail fixed annuities and pension risk transfer space. Mortgage insurance products have a relatively long exposure period when compared with most of Archs current property/casualty insurance and reinsurance products, which can be characterized as medium tail on average. 2 Church Street Hamilton BM HM 11 Headquarters Address [en] Waterloo House 100 Pitts Bay Road Pembroke BM HM 08 External Public Records LEI Registration Details L E I 549300J3KKX1PEJGDW36 Legal Name ARCH REINSURANCE LTD. Authority Authority I D RA000028 Authority Authority I D 30395 Legal Jurisdiction BM Legal Form Legal Form Code NAQG Status Actual events and results may differ materially from those expressed or implied in these statements. Arch Reinsurance Ltd. (Arch Re), a subsidiary of Arch Capital Group Ltd., today announced the completion of the previously disclosed acquisition of Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset). OLDWICK, N.J.-- ( BUSINESS WIRE )-- A.M. Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit. Arch Reinsurance Our Platform United States Arch Reinsurance Company United States Our operating platform in the U.S. is Arch Reinsurance Company, a Delaware-domiciled corporation. Third-party cookies include performance cookies and targeted or advertising cookies. +1 908 439 2200, ext. Third-party websites may use them to remember that you have visited a website, and this information is shared with other organisations such as media publishers. PEMBROKE, Bermuda--(BUSINESS WIRE)-- Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. Arch Capital Group Ltd. (And Insurance Company Subsidiaries) Rating Report / Thu 01 May, 2014. james.peavy@ambest.com. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forwardlooking statements. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. The high pricing environment, along with a recent bout of deals in the sector, could provide the necessary tailwinds for AXA to exit the business altogether. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward-looking statements, which reflect our current views with respect to future events and financial performance. -- a- on $450 million 5.031% senior unsecured notes, due 2046. Only email is mandatory, but the more you tell us about yourself the better we can serve you in future. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Arch Reinsurance Europe Underwriting dac provides a wide range of products within Property, Property Facultative, Casualty, Life, Accident & Health, Crop and Hail and Credit and Surety. Performance cookies collect information about how you use our website, which helps us improve functionality and your user experience. AM Best considered long-term sources of liquidity in the evaluation of these potential tail risk events. Arch continues to perform favorably on most operating metrics while maintaining a strong risk-adjusted capital position, despite a significant Stressed Ultimate Loss, as calculated according to AM Bests Evaluating Mortgage Insurance criteria procedure, and low risk-adjusted investment market returns. We use cookies to give you the best experience on our website. These financial statements are . Arch Reinsurance Ltd., part of Arch Capital Group Ltd., is a global leader in the specialty property and casualty reinsurance marketplace. Meet key executives at Arch Reinsurance subsidiaries. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. This proposed acquisition supports our strategy of diversifying our sources of premium and allows for collaborative cycle management of the class over time. Expanding the Possible. Annual FCR Reports - Arch Capital Group Ltd. Theres an expectation that the market for PRT and retail annuities will remain strong for the remainder of 2023 and into the next year, and so would seem an optimal time for Fidelity to establish a Bermuda-based affiliated reinsurer to capitalise on current market dynamics. Arch Capital Group Ltd. (And Insurance Company Subsidiaries) Rating Report / Tue 26 Aug, 2014. All quotes delayed a minimum of 15 minutes. PDF Arch Capital Group Ltd. (including Arch Reinsurance Ltd.) 2021 Chief Executive Officer, Arch Reinsurance Ltd. Chief Executive Officer, Arch Reinsurance Company, President and Chief Executive Officer, Arch Reinsurance Europe Underwriting dac, Chief Executive Officer, Arch Re Facultative. Arch Capital Group Ltd. (And Insurance Company Subsidiaries) Navigator Report / Fri 12 Jul, 2019. Keeping these cookies enabled helps us to improve our website and display content that is more relevant to you and your interests. Arch Reinsurance Ltd. to Acquire Somerset Bridge Group Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. steven.chirico@ambest.com Arch Reinsurance Company Credit Ratings :: Fitch Ratings Targeted or advertising cookies collect information about your browsing habits. On Monday . 1001 and 1030). Committed to providing our brokers and ceding companies with efficient risk transfer products that can profitably influence their results. This website uses cookies so that we can provide you with the best user experience possible. For more information, contact opendata@sec.gov. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Reference ID: 0.a7743217.1689610432.36790820. In a brochure dated March 28th, 2023, Fidelity explained that Soteria Re will focus on affiliated reinsurance of US Retail Fixed Annuities and Pension Risk Transfer Opportunities of existing and new Fidelity Investment Life Insurance Company (FILI) business.. Performance cookies collect information about how you use our website, which helps us improve functionality and your user experience. -- a- on $300 million 7.35% senior unsecured notes, due 2034 You can find out more about which cookies we are using or turn them off at any time in settings. The ratings of Arch reflect the groups balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management. 2022 Solvency and Financial Condition Report. Somersets full value chain platform will deepen Arch Res motor and distribution capabilities in the UK. Ed Berry +44 (0)7703330199 / edward.berry@fticonsulting.com Arch Reinsurance Company: Delaware: Arch Reinsurance Europe Underwriting Designated Activity Company: Ireland: Arch Reinsurance Ltd. Bermuda: Arch Specialty Insurance Agency Inc. As Chief Financial Officer July 19, 2021 10:30 AM Eastern Daylight Time PEMBROKE, Bermuda-- ( BUSINESS WIRE )--Arch Reinsurance Ltd. (ARL) today announced the appointment of Vanessa Hardy. These cookies dont collect information that identifies you personally as a visitor. Arch Capital Group Ltd. 2022 Financial Condition Report. Third-party cookies include performance cookies and targeted or advertising cookies. Arch Insurance is a global company that provides specialty risk solutions across a wide range of industries. Targeted or advertising cookies collect information about your browsing habits. . The Company has shareholders' equity of $5.0 billion at March 31, 2023, and locations in Bermuda, the United States, Europe, Singapore and Canada. Indian Oil Corp , the country's top refiner, has signed long-term liquefied natural gas (LNG) import deals with United Arab Emirates' s Abu Dhabi Gas Liquefaction Co Ltd (ADNOC LNG) and France's TotalEnergies . -- bbb+ on subordinated debt Reinsurance Leadership Meet key executives at Arch Reinsurance subsidiaries. These cookies dont collect information that identifies you personally as a visitor. Reinsurers take on some of the risks that primary insurers underwrite in exchange for compensation. Arch Reinsurance Limited employs expert underwriting, skilled claims management and outstanding service to expand the possibilities for its clients worldwide. Clients will continue to benefit from Somersets quality insurance solutions and customer service, which are now backed by the financial strength and innovation of Arch Capital Group. The discussions, described by the sources as preliminary in nature and which may not ultimately lead to a transaction, come two years after the business was reported to have attracted interest from French mutual insurer Covea. Arch Reinsurance Ltd. A+ A2 A+ A+ The New York Times to Disband Its Sports Department Top Global Insurance & Reinsurance Brokers, Scale and imminence of cat losses to affect cyber market growth trajectory: Conning, Vrchota named Reinsurance Property Underwriting Director at Cincinnati, BMS Re grows in Latam with Brazilian reinsurance broker acquisition. In the U.S., McNeil & Company provides specialized products, risk management, underwriting and claims expertise across a variety of business sectors. We use cookies to give you the best experience on our website. 2019 Financial Condition Report. Document - SEC.gov You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. The Bermuda-based unit had a book value of . Navigator Report / Mon 25 Feb . PEMBROKE, Bermuda(BUSINESS WIRE) Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. AM Best also recognizes that the mortgage insurance business relies heavily on financial models that can vary from actual results. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Companys ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Companys loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; the Companys ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the Companys gross and net exposures; the failure of others to meet their obligations to the Company; changes in the method for determining the London Inter-bank Offered Rate (LIBOR) and the potential replacement of LIBOR and other factors identified in the Companys filings with the U.S. Securities and Exchange Commission (SEC). subsidiaries (collectively the "Company"), a wholly-owned subsidiary of Arch Capital Group Ltd., at December 31, 2008 and December 31, 2007, and the results of their operations and their cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. Maamoun Rajeh Chairman and Chief Executive Officer, Arch Worldwide Reinsurance Group Jerome Halgan Chief Executive Officer, Arch Reinsurance Ltd. Peder Moeller Chief Executive Officer, Arch Reinsurance Company Michael Hammer Skip to content. Our Platform - Arch Reinsurance Dec 4, 2020 5:22PM EST OLDWICK, N.J. -- (BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "aa-".
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