Arch Capital Group Ltd. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Arch Capital Group Ltd. has submitted its 2023 annual report (10-K), detailing financial performance and key balance sheet items.</b>

AI Summary

ARCH CAPITAL GROUP LTD. (ACGLN) filed a Annual Report (10-K) with the SEC on February 23, 2024. Arch Capital Group Ltd. filed its 2023 Form 10-K on February 23, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers the company's financial performance and operations for the fiscal year 2023. Key financial data points such as common stock, preferred stock, additional paid-in capital, and retained earnings for the fiscal year 2023 are detailed. The report includes information on fixed maturities and short-term investments as of December 31, 2023, and December 31, 2022. The company's principal executive offices are located at Waterloo House, 100 Pitts Bay Road, Pembroke, Bermuda.

Why It Matters

For investors and stakeholders tracking ARCH CAPITAL GROUP LTD., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Arch Capital Group's financial health and strategic positioning for the fiscal year 2023, crucial for investors assessing its stability and growth prospects. The detailed financial statements and disclosures within the 10-K are essential for understanding the company's asset base, equity structure, and investment portfolio, informing investment decisions.

Risk Assessment

Risk Level: medium — ARCH CAPITAL GROUP LTD. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of financial and operational information. While it provides a detailed look at the company's performance, the inherent risks in the insurance industry and the complexity of financial reporting contribute to a medium risk assessment.

Analyst Insight

Investors should review the detailed financial statements, risk factors, and management's discussion and analysis within the 10-K to form a comprehensive view of Arch Capital Group's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Fiscal year end date)
• 2024-02-23 — Filing Date (Date the 10-K was filed)
• 2023-01-01 — Fiscal Year Start (Start date of the reporting period)

Key Players & Entities

• ARCH CAPITAL GROUP LTD. (company) — Filer name
• 0000947484 (company) — Central Index Key
• 20231231 (date) — Conformed period of report
• 20240223 (date) — Filed as of date
• FIRE, MARINE & CASUALTY INSURANCE (industry) — Standard Industrial Classification
• WATERLOO HOUSE, GROUND FLOOR (address) — Business address street 1
• PEMBROKE (location) — Business address city
• HM 08 (postal_code) — Business address zip

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-23: Filing Date — Date the 10-K was officially filed with the SEC.

Key Financial Figures

• $0.0011 — nge on which registered Common Shares, $0.0011 par value per share ACGL Nasdaq Stock M
• $21.1 billion — uda exempted company with approximately $21.1 billion in capital at December 31, 2023 and is
• $13.5 billion — nce and reinsurance. For 2023, we wrote $13.5 billion of net premiums and reported net income
• $4.4 billion — vailable to Arch common shareholders of $4.4 billion. Book value per share was $46.94 at Dec
• $46.94 — $4.4 billion. Book value per share was $46.94 at December 31, 2023, compared to $32.6
• $32.62 — 46.94 at December 31, 2023, compared to $32.62 per share at December 31, 2022. Arch C
• $763.2 m — teams and an equity capital infusion of $763.2 million, which created a strong capital b
• $5.9 billion — ares for an aggregate purchase price of $5.9 billion. At December 31, 2023, the total remain
• $1.0 billion — under the share repurchase program was $1.0 billion. The timing and amount of the repurchas

Filing Documents

• acgl-20231231.htm (10-K) — 7479KB
• a2023ex21.htm (EX-21) — 91KB
• a2023ex23.htm (EX-23) — 2KB
• a2023ex24.htm (EX-24) — 20KB
• a2023ex311.htm (EX-31.1) — 11KB
• a2023ex312.htm (EX-31.2) — 11KB
• a2023ex321.htm (EX-32.1) — 6KB
• a2023ex322.htm (EX-32.2) — 6KB
• ex971.htm (EX-97.1) — 24KB
• acgl-20231231_g1.jpg (GRAPHIC) — 68KB
• acgl-20231231_g2.jpg (GRAPHIC) — 99KB
• 0000947484-24-000020.txt (&nbsp;) — 35359KB
• acgl-20231231.xsd (EX-101.SCH) — 134KB
• acgl-20231231_cal.xml (EX-101.CAL) — 182KB
• acgl-20231231_def.xml (EX-101.DEF) — 948KB
• acgl-20231231_lab.xml (EX-101.LAB) — 1692KB
• acgl-20231231_pre.xml (EX-101.PRE) — 1326KB
• acgl-20231231_htm.xml (XML) — 8885KB

RISK FACTORS

ITEM 1A. RISK FACTORS 40

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 60

CYBERSECURITY

ITEM 1C. CYBERSECURITY 60

PROPERTIES

ITEM 2. PROPERTIES 61

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 61

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 61 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 62

[ RESERVED ]

ITEM 6. [ RESERVED ] 63

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 64

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 95

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 96

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 171

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 171

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 172

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 172 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 172

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 172

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 173

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 173

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 173 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 174

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 185 Cautionary Note Regarding Forward-Looking Statements The Private Securities Litigation Reform Act of 1995 ("PSLRA") provides a "safe harbor" for forward-looking statements. This report or any other written or oral statements made by or on behalf of us may include forward-looking statements, which reflect our current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this report are forward-looking statements. Forward-looking statements, for purposes of the PSLRA or otherwise, can generally be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" and similar statements of a future or forward-looking nature or their negative or variations or similar terminology. Forward-looking statements involve our current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. Important factors that could cause actual events or results to differ materially from those indicated in such statements are discussed below and elsewhere in this report and in our periodic reports filed with the Securities and Exchange Commission ("SEC"), and include: our ability to successfully implement our business strategy during "soft" as well as "hard" markets; acceptance of our business strategy, security and financial condition by rating agencies and regulators, as well as by brokers and our insureds and reinsureds; our ability to consummate acquisitions and integrate the business we have acquired or may acquire into our existing operations; our ability to maintain or improve our ratings, which may be affected by our ability to raise additional equity or debt financings, by ratings agencies' existing or new policies and practices, as well as other factors described herein; gene

BUSINESS

ITEM 1. BUSINESS As used in this report, references to "we," "us," "our," "Arch" or the "Company" refer to the consolidated operations of Arch Capital Group Ltd. ("Arch Capital") and its subsidiaries. All amounts are in millions, except per share amounts, unless otherwise noted. We refer you to Item 1A "Risk Factors" for a discussion of risk factors relating to our business. OUR COMPANY General Arch Capital is a publicly listed Bermuda exempted company with approximately $21.1 billion in capital at December 31, 2023 and is part of the S&P 500 index. Arch provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. While we are positioned to provide a full range of property, casualty and mortgage insurance and reinsurance lines, we focus on writing specialty lines of insurance and reinsurance. For 2023, we wrote $13.5 billion of net premiums and reported net income available to Arch common shareholders of $4.4 billion. Book value per share was $46.94 at December 31, 2023, compared to $32.62 per share at December 31, 2022. Arch Capital's registered office is located at Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda (telephone number: (441) 295-1422), and its principal executive offices are located at Waterloo House, Ground Floor, 100 Pitts Bay Road, Pembroke HM 08, Bermuda (telephone number: (441) 278-9250). Arch Capital makes available free of charge through its website, located at www.archgroup.com , its annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments to those reports as soon as reasonably practicable after such material is electronically filed with, or furnished to, the U.S. Securities and Exchange Commission ("SEC"). The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC (such as Arch Capital) and the address of that si

View Full Filing

View this 10-K filing on SEC EDGAR