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ARCH CAPITAL GROUP LTD.ACGL

Sector
Financial Services
Industry
Fire, Marine & Casualty Insurance
Exchange
Nasdaq

Stock Price $ACGL

Latest filings

You are here#45 of 58 in Financials by market cap

Filing record · 2016–202610-K1110-Q328-K172

ACGL filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 172 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Nov ’17Nov ’17
  2. Material agreement8-K · Dec ’19Dec ’19
  3. Material agreement8-K · Apr ’22Apr ’22
  4. FY2024 annual report10-K · Feb ’25Feb ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $19.93B
YoY changeLargest recent move+41.8%in FY23Latest +14.3%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All ACGL Financial Metrics37 metrics

Income Statement9

Balance Sheet14

Cash Flow9

Per Share5

02—Overview

ARCH CAPITAL GROUP LTD. Financial Overview 2021–2025

Updated Aug 15, 2026

Arch Capital Group shocked the specialty insurance space in FY2023 when its book value per share skyrocketed by 43.9% to $46.94a in a single year, proving the power of an aggressive cycle-management strategy. The core investment thesis is clear: this is a highly agile underwriting operation that expands its specialty lines during hard markets and returns excess cash to shareholders when pricing softens. This structural flexibility allowed net income to more than double from $2.1 billion in FY2021 to $4.4 billion by the close of FY2025.

The underlying performance reveals a deeply diversified profit engine. While the broader property and casualty markets absorbed elevated catastrophe losses, Arch's mortgage segment served as a reliable anchor, generating over $1 billionb in underwriting income for four consecutive years ending in FY2025. The company also deployed cash into strategic growth, completing a $450 million acquisition of Allianz’s U.S. middle-market operations in Q3 2024 to capture attractive commercial pricing. Concurrently, management funneled excess capital back to investors, declaring a $1.9 billion special dividend in FY2024 and executing $1.9 billion in share repurchases during FY2025. Supported by $47.4 billion in investable assets, the market rewarded this disciplined execution, valuing the stock at $95.92 per share at the close of FY2025.

Recent Developments (Q4 2025 and Q2 2026)

Arch aggressively restructured its leadership and balance sheet during the first half of 2026. In June 2026, Maamoun Rajeh became the sole President following the immediate departure of Global Insurance President David Gansberg. Concurrently, the company issued $2.0 billionc in senior notes and upsized a debt tender offer to $417.8 million. Management also expanded its share repurchase authorization by $3.0 billion in April 2026, executing $1.2 billion in buybacks during Q2 2026 and driving book value per share to $68.04.

Bulls can argue the stock remains cheaply valued at 8.9x earnings as of August 4, 2026, supported by first-half net income climbing to $2,084 milliond. Bears will counter that Q2 2026 net income fell year-over-year to $1,047 million, with insurance segment underwriting income plummeting to just $27 million amid elevated transitional expenses.

What to watch: execution under the new single-president structure; underwriting margins across competitive property catastrophe renewals.

03—Filings

Recent SEC Filings

  1. 8-KARCH CAPITAL GROUP LTD. 8-K Report, Financial Results (Jul 28, 2026)Arch Capital Group (ACGL) reported Q2 2026 net income available to common shareholders of $1.0 billion, or $3.00 per diluted share, down from $3.23 a year earlier, with an 18.0% annualized return on average common equity. After-tax operating income was $893 million ($2.56 per share), down 0.8% year over year, and the decline reflects a higher combined ratio of 83.5% (versus 81.2%) driven mainly by a deteriorating insurance segment. The year-over-year comparison is also flattered by the absence of the $229 million of realized gains recorded in Q2 2025, which made the headline EPS decline look larger than the operating trend. Underwriting results were mixed across segments. The Insurance segment's combined ratio rose to 98.5% from 93.4%, driven by $151 million of current accident year catastrophe losses (8.0 points), transitional expenses from the MCE Acquisition, and lower earned premium, leaving underwriting income down 79% to $27 million. Reinsurance remained strong at a 77.5% combined ratio, supported by $165 million of total favorable prior-year development across segments, though net premiums written fell 6.9% for the consolidated company. Mortgage was again highly profitable, with a 22.8% combined ratio boosted by 15.7 points of favorable reserve development, and PMIERs sufficiency fell to 165% from 175% in the prior quarter. Capital management was very active. Arch repurchased $1.2 billion of shares in the quarter at an average price of $94.38, and book value per common share rose 2.8% to $68.04. The company also issued $2.0 billion of senior notes (5.250% due 2036 and 5.950% due 2056) and tendered for some older notes, lifting its debt-to-total-capital ratio to 15.1% from 10.1%. Investors should watch whether the Insurance segment margin recovers and how the higher leverage affects the pace of buybacks.
  2. 8-KARCH CAPITAL GROUP LTD. 8-K Report, Corporate Update (Jun 16, 2026)Arch Capital Group Ltd. (ACGL) filed an 8-K on June 16, 2026 to report the early results and pricing of cash tender offers by two wholly owned subsidiaries to repurchase up to $417.851 million of senior notes. The offers cover the 5.144% Senior Notes due 2043 issued by Arch Capital Group (U.S.) Inc. ($500 million outstanding) and the 5.031% Senior Notes due 2046 issued by Arch Capital Finance LLC ($450 million outstanding). The Maximum Amount was increased from the original terms, and the Early Tender Deadline was June 15, 2026. Holders tendered $218.712 million of the 2043 notes and $199.139 million of the 2046 notes, and all tendered notes are expected to be accepted with no proration. The 2043 notes are priced at a total consideration of $960.00 per $1,000 principal amount, and the 2046 notes at $942.30 per $1,000. Both figures include a $50 early tender premium and are based on a fixed spread of +55 bps over the 5.00% U.S. Treasury due May 15, 2046, with a reference yield of 4.954%. Accrued and unpaid interest is paid in addition. Early settlement is expected on June 18, 2026, and the offers expire on July 1, 2026. The company does not expect to accept notes tendered after the Early Tender Deadline because the early tenders already equal the Maximum Amount. For investors, this is a liability management transaction rather than an operating event. Using the tendered amounts and prices, the cash outlay is roughly $397.6 million before accrued interest, which reduces Arch's outstanding senior debt by about 44% of each series. The filing does not describe the funding source beyond stating that the financing condition was satisfied. Investors should weigh the deleveraging and potential interest savings against the cash used and the premium paid. The release also notes that the Offerors may waive conditions, change the Maximum Amount, or make further open-market or redemption purchases later.
  3. 8-KARCH CAPITAL GROUP LTD. 8-K Report, Material Agreement (Jun 9, 2026)Arch Capital Group Ltd. (ACGL) has announced the completion of a significant public offering of senior notes, raising a total of $2.0 billion. This offering comprises $600 million of 5.250% senior notes due 2036 and $1.4 billion of 5.950% senior notes due 2056. These notes are registered under the company's universal shelf registration statement and were issued under an indenture agreement with The Bank of New York Mellon. This move indicates Arch Capital's strategy to bolster its capital structure and potentially fund future growth or strategic initiatives. From an investor's perspective, the issuance provides an opportunity to invest in Arch Capital's long-term debt with fixed coupon rates. The notes are senior unsecured obligations, ranking equally with other senior unsecured debt, but are subordinated to secured debt and effectively subordinate to obligations of subsidiaries. Investors should note the specific interest payment dates, maturity dates, and the call provisions, including "make-whole" redemption clauses for the earlier years and par redemption thereafter. The covenants and events of default outlined are standard for such debt issuances and are important for understanding potential risks.
  4. 8-KARCH CAPITAL GROUP LTD. 8-K Report, Executive Changes (Jun 3, 2026)Arch Capital Group Ltd. (ACGL) disclosed a leadership transition on June 3, 2026. David Gansberg, who oversaw the Global Insurance Group and served as a President of Arch, is stepping down effective immediately and departing the company. The filing describes his departure as following a distinguished tenure and says he will receive benefits under his employment agreement (dated March 1, 2019, as amended) and under his equity awards, subject to their terms. To fill the gap, Maamoun Rajeh's role as President is expanded. He already oversaw the Reinsurance and Mortgage segments and now also takes responsibility for the Insurance segment, moving the company to a single President model. He will continue to report to CEO Nicolas Papadopoulo. His employment agreement (dated September 19, 2017, as amended) is unchanged, and no new equity awards were granted in connection with the expanded role, which is a notable detail for investors assessing incremental compensation cost. For investors, the event is a senior executive departure combined with a consolidation of leadership under one President, rather than a financial disclosure. The filing contains no financial results, guidance, or quantitative impact. The press release cites approximately $26.9 billion in capital at March 31, 2026. Investors may want to watch for any commentary on continuity in the Insurance segment and for how the single-President structure affects execution.
  5. 8-KARCH CAPITAL GROUP LTD. 8-K Report, Material Agreement (Jun 3, 2026)Arch Capital Group Ltd. (NASDAQ: ACGL) priced a $2.0 billion senior unsecured notes offering on June 2, 2026, with settlement expected June 9, 2026. The offering consists of $600 million of 5.250% senior notes due 2036 and $1.4 billion of 5.950% senior notes due 2056. The offering was made under an effective shelf registration statement and is underwritten by Wells Fargo Securities, BofA Securities, J.P. Morgan, and Lloyds Securities. The company plans to use the net proceeds in three ways: to retire the outstanding $500 million of 4.011% senior notes due 2026 issued by Arch Capital Finance LLC; to fund the tender offers for its 5.144% senior notes due 2043 (issued by Arch Capital Group (U.S.) Inc.) and 5.031% senior notes due 2046 (issued by Arch Capital Finance LLC); and for general corporate purposes with any remaining balance. This is primarily a liability management transaction that refinances near-term maturities and higher-coupon legacy debt with longer-dated notes, rather than a pure new-capital raise. For investors, the filing shows ACGL extending its debt maturity profile, with a significant weighting toward the 2056 tranche (70% of the deal). The filing does not disclose the impact on interest expense, leverage ratios, or the tender offer pricing, so those details would need to be drawn from the press release, the prospectus supplement, and the company's subsequent filings. The company reported approximately $26.9 billion in capital at March 31, 2026.
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04—See also

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